Navigation Links
New PhRMA resources chock full of biopharma industry facts
Date:7/21/2017

WASHINGTON, July 21, 2017 /PRNewswire-USNewswire/ -- Did you know that PhRMA member companies invested $65.5 billion in research and development (R&D) in 2016? Or that combined spending on brand medicines, generics and the supply chain account for 14 percent of total national health spending, with brands accounting for just half of this (7 percent)? Or that the United States accounts for two thirds of the world's venture capital investments in high-growth biopharmaceutical startups?

The biopharmaceutical industry accounts for 1 out of every 6 dollars spent on domestic R&D by US businesses.
The biopharmaceutical industry accounts for 1 out of every 6 dollars spent on domestic R&D by US businesses.

These are but a few of the facts that can be found in the 2017 Biopharmaceutical Research Industry Profile and industry chart pack, Biopharmaceuticals In Perspective released today. These annual resources share wide-ranging data points and updates on advances in treatment, research and development, market dynamics, cost sharing trends, medicine spending trends, outcomes and savings and the industry's economic impact.

Must-know industry facts include:

  • New medicines are making strides in reducing disease morbidity and mortality.
  • 74 percent of all drugs in clinical development are potentially first-in-class medicines, meaning they use a completely new approach to fighting a disease.
  • The biopharmaceutical industry's average return on equity is 16.2 percent, similar to other industries including trucking, software and construction supplies.
  • Negotiated savings on brand prescriptions are often not shared with patients who are increasingly being asked to pay more out of pocket.
  • Spending on brand prescription medicines only accounts for 7 percent of total annual healthcare spending.
  • 5 percent of the population accounts for 50 percent of US health care spending.
  • The biopharmaceutical industry accounts for 1 out of every 6 dollars spent on domestic R&D by US businesses.

View the industry profile here and the chart pack here.

This post originally appeared here: http://catalyst.phrma.org/new-phrma-resources-chock-full-of-biopharma-industry-facts

Contact: Holly Campbell; 202-835-3460; newsroom@phrma.org

 

View original content with multimedia:http://www.prnewswire.com/news-releases/new-phrma-resources-chock-full-of-biopharma-industry-facts-300492119.html


'/>"/>
SOURCE Pharmaceutical Research and Manufacturers of America (PhRMA)
Copyright©2017 PR Newswire.
All rights reserved


Related medicine technology :

1. PhRMA Launches "Im Not Average" Campaign to Highlight the Stories of Cancer Survivors
2. PhRMA Foundation Launches New Web Platform to Support Researchers in Developing Life-Saving, Cost-Effective Medicines
3. Week in Review: The Latest from PhRMA
4. PhRMA Foundation Announces New Young Investigator Grantees to Advance Medication Adherence Research
5. Merck Chairman and CEO Kenneth C. Frazier Becomes PhRMA Board Chairman
6. PhRMA Applauds 2015 We Work For Health Champion Award Winners
7. PhRMA Member Companies Invested $51.2 Billion in R&D in 2014
8. National Minority Quality Forum to Award PhRMA President John Castellani for Leadership in Increasing Clinical Trial Diversity
9. PhRMA Elects New Members of Board of Directors
10. PhRMA and Epilepsy Foundation Report More Than 400 Medicines in Development to Treat Neurological Disorders
11. Joint BIO/PhRMA Statement on PDUFA Reauthorization
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... AVACEN Medical , Inc. (AVACEN) announced that ... New Product Innovation Award for Its fibromyalgia pain management ... medical device market research by Frost & Sullivan,s industry experts. ... pain relief product, the AVACEN 100, offers a safe and ... pain. ...
(Date:10/11/2017)... Oct. 11, 2017  BioPharmX Corporation (NYSE MKT: BPMX) ... developed an innovative way to use nonlinear optical imaging ... of new drugs. ... Conference will show how researchers from BioPharmX and the ... School used a suite of imaging techniques in what ...
(Date:10/11/2017)... Oct. 11, 2017  Hill-Rom Holdings, Inc. ("Hill-Rom") (NYSE: ... facility in Las Piedras, Puerto Rico ... blades. Following ... facility sustained minor structural damage, temporary loss of power ... have been completed, manufacturing operations have resumed, and the ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... ProVest Insurance Group, a family ... and Raleigh regions, is organizing an extended charity drive to benefit the family ... abnormality. , After struggling since birth with several health challenges, T.J. was later ...
(Date:10/13/2017)... ... 13, 2017 , ... The International Association of Eating Disorders ... for the field of eating disorders, announces the opening of early registration for ... Florida at the Omni Resort at ChampionsGate. , The annual iaedp™ ...
(Date:10/13/2017)... ... October 13, 2017 , ... Many families have long-term insurance ... care insurance companies have a waiver for care if the client has a cognitive ... the family pays for care, is often waived, so the benefits from their insurance ...
(Date:10/13/2017)... ... October 13, 2017 , ... ... viewers the lowdown on sciatica in a new episode of "Success Files," which ... current events and innovation and investigates each subject in-depth with passion and integrity. ...
(Date:10/12/2017)... ... October 12, 2017 , ... CitiDent and San ... using cutting-edge Oventus O2Vent technology. As many as 18 million Americans are ... cessation in breathing. Oral appliances can offer significant relief to about 75 percent ...
Breaking Medicine News(10 mins):