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The New Jersey Life Sciences Vendors Alliance (NJLSVA) is a coalition of businesses, individuals and academia who provide goods and services to New Jersey’s life sciences companies.

The NJLSVA was founded to educate suppliers on trends in industry procurement and public policy that affects the life sciences industry.

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Report: PhRMA Member Companies Invested $48.5 Billion in R&D in 2012

Washington, DC, April 12, 2013 —Investment in research and development (R&D) by member companies of the Pharmaceutical Research and Manufacturers of America (PhRMA) remained strong at an estimated $48.5 billion in 2012, despite economic, scientific, and business challenges.  These efforts are highlighted in PhRMA’s 2013 Biopharmaceutical Research Industry Profile released on Thursday.

The 2012 R&D investment figures reflect the biopharmaceutical sector’s continued standing as America’s most research-intensive industry.  In 2012, PhRMA members invested nearly 21 percent of domestic sales into R&D.

“Investment in research is crucial to bringing new treatments to patients for our most challenging and costly diseases,” said John J. Castellani, PhRMA president and CEO. “The U.S. biopharmaceutical sector — led by our member companies — is a major contributor to American innovation and to the domestic economy.”

This commitment to research and development is reflected in the robust biopharmaceutical pipeline, which has a high proportion of potential first-in-class medicines and therapies targeting diseases with limited treatment options.  

According to a report released by PhRMA earlier this year, more than 5,400 medicines are in development globally, representing future opportunities for new, cutting-edge medicines to improve patient care and bring value to the U.S. health care system.

The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research and biotechnology companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier, and more productive lives.  Since 2000, PhRMA member companies have invested nearly $550 billion in the search for new treatments and cures, including the estimated $48.5 billion in 2012 that is reported here.

To access the 78-page PhRMA report, click here.  To access, PhRMA’s press release, click here.