Fact Check Friday: The Truth About Industry's Role in R&D
In this Fact Check Friday, we talk about the truth about the industry's role in research and development. The myth: innovative, new medicines come from government and university laboratories. While government research supports basic research, America’s biopharmaceutical companies conduct the critical R&D needed to bring new medicines to patients and bear the associated costs and risks. In fact, the biopharmaceutical sector spends more on R&D than the entire National Institutes of Health operating budget with PhRMA member companies investing $51.2 billion in 2014, and over half a trillion dollars since 2000.