SAN FRANCISCO, March 24 /CNW/ -- New statistics just released reveal that
R&D investment in new medicines by the biopharmaceutical industry was $58.8
billion in 2007, according to a combined analysis conducted by Burrill &
Company, a San Francisco based global leader in life sciences whose principal
activities are in Private Equity, Venture Capital, Merchant Banking and Media
and the Washington DC-based Pharmaceutical Research and Manufacturers of
PhRMA-member companies alone spent an estimated $44.5 billion on
pharmaceutical R&D last year -- up from the previous record of $43 billion in
2006, according to a PhRMA survey. The Burrill & Company analysis shows that
non-PhRMA pharmaceutical research companies in the United States spent an
estimated $14.3 billion on R&D last year, compared with $12.2 billion in 2006.
"This is the fourth year that we have joined with PhRMA to report
industry-wide biopharmaceutical research and development expenditures," said
G. Steven Burrill, CEO of Burrill & Company. "The steady growth of R&D
investment continues to support important advances in better medicines and new
treatments for patients made by research scientists and physicians."
"America's biopharmaceutical research companies continue to pave the way
for the development of future treatments and cures," said PhRMA President and
CEO Billy Tauzin. "Simply put, R&D is the lifeblood of U.S. pharmaceutical
innovators. Last year's investment builds on over 25 years of growth in R&D
spending as our researchers continue the search for new and improved therapies
to tackle a wide range of diseases and conditions such as cancer, heart
disease, HIV/AIDS and Alzheimer's."
Today, there are more than 2,700 medicines in development in the U.S. for
4,600 different indications. The current pipeline includes more than 600
medicines to treat cancer, over 300 specific to rare diseases and more than
275 medicines for heart disease and stroke. This activity dwarfs the
pipelines in other parts of the world, such as Europe and Japan, partly
reflecting existing policies in the U.S. that foster innovation.
"The preservation and strengthening of these policies -- including our
market-based health care system, incentives for research and strong
intellectual property rights -- are critical if we as a nation are serious
about maintaining our leadership in pharmaceutical R&D," said Tauzin.
"Patients in the U.S. and around the world deserve no less."
Burrill & Company computes R&D expenses among other key financial
parameters on a quarterly basis for the universe of U.S. publicly listed
biotech companies through its reports on the industry (sourced from company
reports filed with the SEC). To create a comparable report additive to PhRMA's
annual membership survey, Burrill applies a set of pre-determined criteria to
their biotech research to identify and select non-member companies.
-- Companies must be based in the United States of America
-- Companies must not be a member or member subsidiary of PhRMA and,
-- Companies must meet the "human healthcare focus" test, i.e., their R&D
expenses are principally for research and development of new medicines
About Burrill & Company
Founded in 1994, Burrill & Company has over $950 million under management
The company publishes an annual book on the "State of the Industry" -- the
22nd Edition, Biotech 2008-Life Sciences: A Global Transformation, will be
available in April 2008. In addition, the Burrill Media publishes a range of
biotechnology/life science newsletters and reports and sponsors and
facilitates over a dozen leading industry conferences.
The Pharmaceutical Research and Manufacturers of America (PhRMA)
represents the country's leading pharmaceutical research and biotechnology
companies, which are devoted to inventing medicines that allow patients to
live longer, healthier, and more productive lives. PhRMA companies are leading
the way in the search for new cures.
For further information:
For further information: Peter Winter, Editorial Director of Burrill &
Company, +1-415-591-5474, email@example.com Web Site: