Pharmaceutical R&D Spending Drops to Lowest Level Since 1988
Only 6.9% of brand-name drug companies' Canadian sales revenues spent on research and development
TORONTO, - Research and development spending in Canada by brand-name drug companies has dropped to its lowest level since 1988, according to the latest annual report of the Patented Medicine Prices Review Board (PMPRB).
The PMPRB reports that in 2010, brand-name drug companies spent only 6.9 percent of their Canadian revenues on research and development in Canada, marking the tenth consecutive year that brand-name drug companies have broken their promise to spend at least 10 percent of their domestic sales on R&D.
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