You do realize that Pharma companies have the highest R&D spend of almost all industries? And nearly 80% of new molecular entities (breakthroughs) come from biotech/Pharma?[1]
Just the top ones have total R&D spend of almost $40B.
And no, that doesn’t include marketing costs. That’s separate.
Saying that big Pharma doesn’t contribute to new drugs is completely false.
The Development part of R&D has little to nothing to do with research. Thus you can’t equate R&D spending to Research spending. Companies have gone so far as including what is best described as marketing expenses as R&D.
Further, I excluded most companies from the definition, you need to defend them not the industry.
You do realize that Pharma companies have the highest R&D spend of almost all industries? And nearly 80% of new molecular entities (breakthroughs) come from biotech/Pharma?[1]
Just the top ones have total R&D spend of almost $40B.
And no, that doesn’t include marketing costs. That’s separate.
Saying that big Pharma doesn’t contribute to new drugs is completely false.
[1]https://blogs.sciencemag.org/pipeline/archives/2010/11/04/wh...