PHARMACEUTICAL RESEARCH AND MANUFACTURERS OF AMERICA’s member companies invested an estimated $58.8 billion in research and development in 2015, up 10.3 percent from 2014, based on the 2016 PhRMA annual member survey published in the 2016 Biopharmaceutical Research Industry Profile.
According to PhRMA, the biopharmaceutical industry is the most research-intensive sector of the U.S. economy, investing on average six times more in R&D as a percentage of sales than all other manufacturing industries.
The sector also accounted for an estimated 17 percent of all U.S. business R&D spending, the largest share of R&D spending by U.S. businesses. From 2000 to 2015, more than 550 new medicines were approved by FDA, including a record 56 new medicines in 2015.
