Members of PhRMA invested $51.2 billion last year in R&D

Pharmaceutical Research and Manufacturers of America (PhRMA), the US’s representative body for pharma and biotech companies and researchers, has estimated that its member countries invested $51.2 billion last year in research and development of new treatments and cures.

This represents the majority of all biopharma research and development spending, done publicly and privately, in the USA, according to the report  PhRMA 2015 Biopharmaceutical Research Industry Profile. Although the industry is presented with ongoing economic challenges, biopharma continues to be one of the country’s most research-intensive sectors. Biopharma companies invest, on average, as much as six times more in research and development relative to their sales than the average US manufacturing firm. In 2014, member companies of PhRMA invested nearly 24% of domestic sales into research and development. Since 2000, PhRMA member companies have invested more than $600 billion in the search for new treatments and cures.

Record number of new medicines