Pipeline advancements and asset buys fueled mid-cap biotech R&D spend in 2014; report
The combined spend on research and development (R&D) for the peer group of 35 mid-cap biotech companies increased by nearly $2 billion to reach a total of $9.7 billion in 2014, primarily thanks to top spenders Regeneron and Vertex, says research and consulting firm GlobalData.
The company’s report states that US biotech firm Regeneron Pharmaceuticals (Nasdaq: REGN) led the way with R&D expenses of $860 million in 2013, with further analysis showing that Regeneron’s R&D expenses grew by 47.9% year-to-year to $1.3 billion in 2014.
According to Adam Dion, GlobalData’s senior industry analyst, this expenditure was boosted by an increase in clinical trial expenses, due to additional costs for studies of dupilumab, and REGN-1033, the company’s antibody to myostatin (GDF8), which is in Phase II trials for undisclosed musculoskeletal disorders.
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