Our Bold New Commitment to R&D
The lifeblood of health is research and discovery (R&D). That’s why America’s Biopharmaceutical Companies recently announced a bold new commitment to the R&D of new treatments and cures for patients.
To be eligible for membership in our association, companies must have a three-year average global R&D to global sales ratio of 10 percent or greater and a three-year average global R&D spending of at least $200 million per year. Most member companies far exceed this threshold. In fact, America’s Biopharmaceutical Companies invest more than $70 billion in R&D each year. And reinvest on average 20 percent of their revenue into the search for new treatments and cures.
No other industry in America comes close to this.
The biopharmaceutical industry’s investment in R&D is more than twice the entire budget of the National Institutes of Health. And the sector as a whole accounts for 17 percent of all domestic R&D funded by U.S. businesses – far more than the software (13 percent), automobile (5 percent) and aerospace (4 percent) industries.
Welcome to the new era of medicine where together we #GoBoldly.