Related topics: Lifecycle management, Industry Drivers
US pharmaceutical and biotechnology firms spent a record $65bn (€48bn) on drug and vaccine R&D in 2009, says a new study by the Pharmaceutical Research and Manufacturers of America (PhRMA) and bank Burrill & Co.
PhRMA CEO Billy Tauzin, who is stepping down this summer, said the investment, which is up 2 per cent on 2008, shows the industry has retained its commitment to developing new products despite the challenges of the economic downturn.
The report also indicates that the level of R&D spending, as a proportion of revenue in 2009, was around 18 per cent which is consistent with trends over the last few years.
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