BRIEF—PhRMA members invested nearly $80 billion in R&D last year

Last year, Pharmaceutical Research Manufacturers of America (PhRMA) member companies invested a record-setting $79.6 billion in research and development (R&D) according to the  2019 PhRMA member annual survey.

The survey, released in conjunction with the 2019 Biopharmaceutical Research Industry Profile, also revealed roughly $1 out of every $5 of revenue was devoted to R&D last year.

Of note, PhRMA member R&D spending comprised the majority of the estimated $97 billion the entire US biopharmaceutical industry spent on R&D in 2017, the latest figure available.