US pharmaceutical R&D reached record level in 2007, $58.8B invested in new products
The Pharmaceutical Research and Manufacturers of America (PhRMA) has published details of the US drug industry's R&D efforts in 2007, concluding that the sector reached $58.8 billion of investment in new products, a record. However, the news comes as drugmakers report their slowest rate of sales growth since 1961, according to data from IMS Health (Marketletter March 24).
The 2007 R&D total represents a $3.0 billion increase on the previous year's figure, the PhRMA said. The data was compiled by the drug industry group and merchant bank Burrill & Co with the release coinciding with the 50th anniversary of the PhRMA's founding in 1958.
PhRMA members spent $1.1 billion more
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