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

18 July 2022

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:

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