Biopharma R&D rises 2% in '09 despite recession

R&D investments by pharma and biotech companies in the U.S. actually rose two percent last year, according to a new report from PhRMA and Burrill & Co. And they pointedly note that that is a pretty good bottom line if you consider the savage recession that took a heavy toll on the overall economy. The R&D budget jumped to $65.3 billion in 2009, the analysts say. And the report adds that pharma companies devoted 18 percent of annual sales revenue into the development of new drugs--a point PhRMA repeatedly emphasizes to lawmakers interested in regulating the retail drug market. PhRMA release

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