R&D Spending by US Pharma and Biotech Firms Reaches Record High
US pharmaceutical and biotechnology research companies invested $58.8 billion in research and development in 2007, according to analyses by the Pharmaceutical Research and Manufacturers of America and Burrill & Company.
Washington, D.C. (Mar. 24)-US pharmaceutical and biotechnology research companies invested $58.8 billion in research and development (R&D) in 2007, according to analyses by the Pharmaceutical Research and Manufacturers of America (PhRMA) and Burrill & Company (San Francisco). This R&D level was a record amount, and an increase of nearly $3 billion from 2006.
PhRMA-member companies spent an estimated $44.5 billion on pharmaceutical R&D last year, up from the previous record of $43.4 billion in 2006, according to the PhRMA survey. The Burrill & Company analysis shows that non-PhRMA pharmaceutical research companies in the United States spent an estimated $14.3 billion on R&D last year, compared with $12.7 billion in 2006.
Although the rate of R&D growth was slower than in prior years, research spending as a percentage of sales remained high. Over the past seven years, US pharmaceutical research companies have invested around 18% of sales on R&D.
More drug candidates are in the pipeline. There are more than 2700 drugs in development in the US; five years ago, there were about 2000.
Drug Solutions Podcast: Gliding Through the Ins and Outs of the Pharma Supply Chain
November 14th 2023In this episode of the Drug Solutions podcast, Jill Murphy, former editor, speaks with Bourji Mourad, partnership director at ThermoSafe, about the supply chain in the pharmaceutical industry, specifically related to packaging, pharma air freight, and the pressure on suppliers with post-COVID-19 changes on delivery.
