Record US R&D spending in 2010

 US pharmaceutical companies spent more than ever on R&D last year, according to a Pharmaceutical Research and Manufacturers of America (PhRMA) report.

A record $67.4bn was spent in 2010 on biopharmaceutical R&D, an increase of 6.5% from 2009.

John Castellani, PhRMA President and CEO (pictured), says the record level of investment offered “hope to millions” of Americans and the “healthcare system as a whole”.

The report was released a day after the US Government Accountability Office (GAO) published results of a separate study that found prices for the top 100 US medicines increased 2.6% per year between 2006 and 2010.

Results also showed that prescription drug spending in 2009 totalled approximately $250 billion, a third of which was spent by the federal government.