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R&D Investment by U.S. Biopharmaceutical Companies Remains Strong Despite Ongoing Economic Challenges
Date:3/16/2010

around 18 percent of domestic sales on R&D activities.

"America's biopharmaceutical research sector takes great pride in its global leadership in the development of new life-saving treatments and cures," said PhRMA President and CEO Billy Tauzin. "Over the past year the economic challenges have been enormous, but our industry's continued commitment to R&D is bringing hope to millions of patients around the world who are battling potentially devastating diseases such as cancer, heart disease and diabetes."

U.S. biopharmaceutical companies' focus on research has been observed by many independent experts. For instance, the nonpartisan Congressional Budget Office (CBO) has said: "The pharmaceutical industry is one of the most research-intensive industries in the United States. Pharmaceutical firms invest as much as five times more in research and development, relative to their sales, than the average U.S. manufacturing firm."

Last year, University of Connecticut researchers similarly found that over the past 25 years, investment in R&D by the pharmaceutical and biotechnology sectors greatly exceeded that of all other industries in the U.S.


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SOURCE Pharmaceutical Research and Manufacturers of America
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