The Pharmaceutical Research and Manufacturers of America (PhRMA) and Burrill & Company published a report which notes that “America’s biopharmaceutical research companies invested a record $67.4 billion last year in the research and development of new medicines and vaccines – an increase of $1.5 billion from 2009…PhRMA member companies alone spent an estimated $49.4 billion on biopharmaceutical R&D last year, a 6.5 percent increase over 2009.”.
