WASHINGTON, DC – Despite the economic recession, America’s pharmaceutical research and biotechnology companies invested a record $65.3 billion on the research and development of medicines and vaccines in 2009. This represents an increase of more than $1.5 billion in R&D compared to 2008, according to Manufacturing Chemist.
An analysis was conducted by the Pharmaceutical Research and Manufacturers of America (PhRMA) and U.S. life sciences venture capitalist Burrill & Company. PhRMA member companies alone invested $45.8 billion on research and development in 2009, while non-member companies invested approximately $19.5 billion, according to the report.
The research also found that, during the past nine years, U.S. pharmaceutical research companies have consistently invested approximately 18 percent of domestic sales on R&D.
There are currently more than 2,900 medicines in clinical trials or awaiting review by the U.S. Food and Drug Administration, compared with 2,400 in 2005. The current pipeline includes more than 800 medicines to treat cancer, more than 300 that are specific to rare diseases and more than 300 medicines for heart disease and stroke.
We suspect the amount invested in R&D suggests that companies are trying to build stronger pipelines of new drugs and treatments.
There are two strong reasons for this: older drugs lose patent protection and the U.S. population is aging and a huge market for new treatments for cancer, heart disease, diabetes, and many lesser known ailments.
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