PhRMA member companies invested record $102.3 billion in 2021 R&D

18 July 2022
phrmabig

Member companies of trade group Pharmaceutical Research and Manufacturers of America (PhRMA) continued investment in research and development (R&D) has led to new medicines transforming human health. Innovative biopharmaceutical approaches to treating patients for a broad range of diseases, including chronic and rare conditions, as well as meeting urgent new health challenges like COVID-19 are making a positive impact.

From new data released today, in 2021 alone, PhRMA member companies invested $102.3 billion in R&D, the highest level of investment on record, according to the  2022 PhRMA member annual survey. The survey also found that in 2021, about one out of every five dollars of revenue was devoted to R&D. Additionally, PhRMA members’ R&D spending accounts for most of the estimated $122.2 billion spent by the entire U.S. biopharmaceutical industry on R&D in 2020.

Biopharmaceutical companies are at the heart of a  robust R&D ecosystem that has led to the development of innovative treatments and cures for patients, with more on the horizon:

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK



Today's issue

Company Spotlight





More Features in Pharmaceutical