- Pharmaceutical companies depend largely on R & D to innovate new product for certain diseases to help in patients treatment and remove suffering
- 2020 is the year of highest budget in R & D in many pharmaceutical companies. Top 10 companies spent around $96 billion this year.
- COVID took the major uptake. Many R& D focused on COVID, but there were plenty in the more traditional areas such as cancer, and in more forgotten areas, like heart disease and antibiotics.
The following top 10 R & D spending companies and This spending as a percent of revenue:
- Roche
R&D budget: ($13.9 billion)
R&D budget as percentage of revenue: 22.2% - Merck & Co.
R&D budget: $13.6 billion
R&D budget as percentage of revenue: 28.3% - Johnson & Johnson
R&D budget: $12.15B
R&D budget as percentage of revenue: 14.7% - Bristol Myers Squibb
R&D budget: $11.14 billion
R&D budget as percentage of revenue: 26% - Pfizer
R&D budget: $9.4 billion
R&D budget as percentage of revenue: 22.4% - Novartis
R&D budget:$8.9 billion
R&D budget as percentage of revenue: 18.2% - GlaxoSmithKline
R&D budget:£5.52 billion ($7.7 billion)
R&D budget as percentage of revenue: 16.1% - Sanofi
R&D budget:€5.52 billion ($6.6 billion)
R&D budget as percentage of revenue:15.3% - AbbVie
R&D budget:$6.55 billion
Change from 2019:+$150 million
Total 2019 revenue: $45.8 billion
R&D budget as percentage of revenue:3% - Eli Lilly
R&D budget: $6.08 billion
R&D budget as percentage of revenue: 24.8%
