Markets :: Fine Chemicals/Biotech :: Agricultural chemicals
Pharma R&D Spending Falls for the First Time
2:05 PM MDT | June 28, 2011 | Alex Scott
Spending cuts by big pharma companies has led to the global pharma industry’s first ever annual fall in R&D spending, according to research by Thomson Reuters. The sector’s R&D spending fell by nearly 3% to $68 billion in 2010, when compared with the year earlier. The trend is set to continue again this year, Thomson Reuters says. The drop in R&D expenditure reflects a fall in innovation for each dollar invested. Research spending by drug companies accounting for 80% of the industry's total R&D has increased by more than 50% since...
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