Biopharma R&D hits $55b in 2006
Collective research-and-development spending by US biopharmaceutical companies hit a record $55.2 billion in 2006, according to a new study.
The amount was $3.4 billion more than the previous record of $51.8 billion spent by US companies in 2005.
The spending analysis was made by the Pharmaceutical Research and Manufacturers of America, an industry trade group, and Burrill & Co. of San Francisco, a life sciences merchant bank.
"Once again, America's biopharmaceutical companies lead the world in investing in the search for new treatments and cures," Billy Tauzin, chief executive of the pharmaceutical research and manufacturers group, said in a statement. "Well over half the world's new medicines are developed by our country's innovative companies."
(By Chris Reidy, Globe staff)
