BIOPHARM RESEARCH INVESTMENT JUMPS BY $3.4 BILLION DURING ‘06

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US drug industry spending on biopharmaceutical research set a new record last year, as manufacturers shelled out >$55 billion in the race to develop new biomedicines and vaccines.

Overall, American pharmaceutical researchers increased their research and development expenditures by $3.4 billion in 2006—enabling US scientists to "continue to step up their attack against some of the more complex diseases, including Alzheimer's, Parkinson's, and other neurologic disorders," according to officials of the Pharmaceutical Research and Manufacturers of America (PhRMA).

"As we address these more complex conditions, our scientists find themselves spending more time and money on basic research to develop important new medicines," said PhRMA President Billy Tauzin. "Biopharmaceutical research companies are also working on new techniques and technologies that could lead to the development of safer and more effective drugs."