2010 R&D budget: $3.5 billion
2009 R&D budget: $4.64 Billion

Depending on the daily exchange rate, Takeda's $3.5 billion R&D expense for fiscal 2010, which ended last March, essentially puts them in a tie for 10^th place with Bristol-Myers Squibb. Takeda has been an aggressive dealmaker, like a number of other Japanese pharma companies. But after four straight years of steadily rising R&D costs, Takeda cut research spending by 25 percent in its latest fiscal year. But the company has not been shy about investing huge sums in its research division.

Just days ago Takeda cut the ribbon on its new, $1.8 billion research hub south of Tokyo. The new research hub is designed to accommodate an influx of scientific talent from around Japan, acting as a hub for its R&D spokes in the U.S., Singapore and the UK.