BIOPHARM RESEARCH INVESTMENT JUMPS BY $3.4 BILLION DURING ‘06

US drug industry spending on biopharmaceuticalresearch set a new recordlast year, as manufacturers shelled out>$55 billion in the race to develop newbiomedicines and vaccines.

Overall, American pharmaceutical researchersincreased their research anddevelopment expenditures by $3.4 billionin 2006—enabling US scientists to"continue to step up their attack againstsome of the more complex diseases,including Alzheimer's, Parkinson's, andother neurologic disorders," accordingto officials of the PharmaceuticalResearch and Manufacturers of America(PhRMA).

"As we address these more complexconditions, our scientists find themselvesspending more time and moneyon basic research to develop importantnew medicines," said PhRMA PresidentBilly Tauzin. "Biopharmaceutical researchcompanies are also working on newtechniques and technologies that couldlead to the development of safer andmore effective drugs."