PhRMA meeting sheds light on declining R&D investment
This article was originally published in Scrip
For an industry that's dependent on innovation, less money is being invested in US biotechnology research and development by venture capital and government sources, and the Pharmaceutical Research & Manufacturers of America (PhRMA) revealed at its annual meeting in San Diego that R&D investment by its 31 members also has slipped to $48.5 billion in 2012 from $48.6 billion a year earlier and a high over the past decade of $50.7 billion in 2010.
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