PhRMA Member Companies Invested $49.5B in R+D in 2011

The US biopharmaceutical sector continues to perform well, with PhRMA members investing almost $50 billion in R&D last year.

Members of the Pharmaceutical Research and Manufacturers of America (PhRMA) invested $49.5 billion in research and development in 2011, despite the ongoing difficult economic conditions.

The US biopharmaceutical sector accounts for almost 20 per cent of all domestic R&D funded by US businesses, according to a recent report published by the National Science Foundation's National Science Board.

Figures also show that the US Food and Drug Administration approved 35 new molecular entities last year, including personalised medicines for cancer, therapies for rare diseases, first-in-class treatments for hepatitis C and the first new lupus drug since 1955.

John Castellani, president and chief exec