The Innovative Pharmaceutical Manufacturing Industry

Driving Economic Growth

PhRMA October 12, 2015

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This report is a companion report to analysis of the U.S. manufacturing sector that found research and development (R&D) investment is a key driver of innovation, supporting the growth and sustainability of the nation’s economy. The report, "Intellectual Property (IP)-Intensive Manufacturing Industries: Driving U.S. Economic Growth,” determined that industries that invest more in R&D (defined as “IP-intensive”) tend to be more productive, support higher-value jobs and sustain employment better than industries with low levels of R&D spending ("non-IP-intensive"). Based on data from the National Science Foundation, the U.S. Census Bureau, the U.S. Bureau of Economic Analysis, and the International Trade Commission, the report found that IP-intensive industries accounted for 83% of annual R&D spending across all U.S. manufacturing industries between 2000 and 2010, and R&D investment grew by 53% compared to 34% for non-IP-intensive industries. This companion report was developed with support by PhRMA to explore the economic contributions of manufacturing performed by the innovative biopharmaceutical industry versus other IP-intensive industries across a number of key measures.

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