Pharma Industry
Industry: Email Alert RSS FeedUS Drug Industry Gears Up for Record R&D.(Brief Article)
Chemical Market Reporter, February, 2000
Pharmaceutical and biotechnology companies to invest $26.4 billion in 2000. IN 1999, pharmaceutical and biotechnology companies added 40 new treatments--35 drugs and five biologics--to the nation's medicine chest, according to the Pharmaceutical Research and Manufacturers of America (PhRMA).
The medicines target 36 diseases that affect 545 million patients and cost society an estimated $600 billion per year. "The 40 medicines approved last year bring the total for the 1990s to 370--up from 239 during the previous decade," says PhRMA president Alan F. Holmer. He adds that companies plan to increase their investment in R&D by another $2.4 billion this year, bringing it to a record $26.4 billion. "This commitment to research means that patients...
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