Spending increased slightly from $49.4bn in 2010 to $49.5bn last year but still accounted for almost a fifth of all US-based R&D funded by American businesses.
John Castellani, PhRMA President and CEO, said that despite a challenging environment the US biopharmaceutical sector remains “a major contributor to American innovation”.
However, the slight increase in spending between 2011 and 2010 was dwarfed by the 6.5% increase recorded between 2009 and 2010.
The biopharmaceutical sector is now the US’ most research-intensive industry. Biopharma research companies continue to explore possibilities associated with more targeted therapies and personalised medicines.
“Our member companies’ investment represents a boost to America’s economy, with 78 percent of those dollars invested on our shores,” said John Castellani. “But more importantly, it shows a continued commitment to medical progress that will continue to bring new solutions to America’s patients.”
Last year, 35 new molecular entities received approval by the FDA – one of the highest totals in the last decade.