Pharma Industry
Industry: Email Alert RSS FeedPharma R&D Spending Expected To Surpass $20 Billion This Year.
Chemical Market Reporter, March, 1998 by HESS, GLENN
US RESEARCH-BASED pharmaceutical companies are expected to spend $20.6 billion to research and develop new drugs in 1998, a 10.7 percent increase over last year's investment, according to a survey of member companies conducted by the Pharmaceutical Research and Manufacturers of America (PhRMA).
The trade association says the projected R&D spending is equal to 19.6 percent of the annual revenues of the pharmaceutical industry. By contrast, the average percentage for all other US industries is 3.4 percent, according to Standard & Poor's CompuStat. "In just the past 10 years, the industry's research investment has more than tripled," says PhRMA president Alan F. Holmer. "And companies are investing one out of every live dollars of sales to discover and...
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