Report Summary: Biopharmaceutical R&D remained resilient in 2025, with investment and dealmaking increasingly concentrated in high value science, emerging biopharma, and China linked activity.

February 23, 2024 - R&D funding: In 2023, global funding of biopharmaceutical research and development increased to $72Bn, up from $61Bn in 2022. In the same period, M&A activity jumped to $140Bn from $78Bn in 2022, while the median deal value fell for the second ...

October 8, 2024 - Their estimate of $276 billion is significantly greater than previous estimates by pharmaceutical research groups such as PhRMA and Evaluate Pharma, who estimated $102.3 billion and $238 billion, respectively.

October 24, 2024 - According to the study, the pharmaceutical industry invests a staggering $276 billion annually in research and development, far surpassing the $102 billion figure reported by industry groups like PhRMA in 2021.

This report from the IQVIA Institute - Global Trends in R&D 2025: Progress in Recapturing Momentum in Biopharma Innovation - assesses the trends in R&D funding, clinical trial activity, and new drug approvals and launches. It also examines the efficiency and productivity of clinical development, using a refreshed Clinical Program Productivity Index, while also providing insights on contributing factors and enablers.

October 30, 2024 - Published in August in Nature Reviews Drug Discovery, the study found that global biopharma R&D investment hit $276 billion in 2021 — more than double the commonly cited estimates.

September 9, 2025 - Today, the United States leads the world in biopharmaceutical industry research and development (R&D), supporting nearly five million jobs and generating more than $1.65 trillion in economic output.

Conventional understanding of the magnitude, intensity, and productivity of industry R&D funding is predominantly based on surveys of large public companies. We propose a transparent measure of annual R&D investment and revenue for the full range of firms in the global biopharma ecosystem.

June 30, 2026 - By 2025, China accounted for about 30 percent of the global biopharma pipeline, up from 2 percent just ten years earlier, and about one-fifth of global licensing deals, according to McKinsey research.

August 6, 2024 - Research and development (R&D) investment in the biopharmaceutical industry drives the discovery of new drugs to address unmet medical needs and improve patient outcomes.

Leading contract development and manufacturing organizations (CDMOs) based on revenue in 2024 (in billion U.S. dollars) Likelihood of outsourcing drug development activities by biopharma companies 2025 · Likelihood of outsourcing drug development activities by biopharma companies 2025 · Likelihood of outsourcing select drug development activities in the next 2 years among biopharmaceutical companies worldwide as of 2025 · Outsourcing in clinical development among global biopharma companies by size 2025

Detail on the measurement of R&D investment in each population is provided in Supplementary · Boxes 4–7. We also conducted sensitivity analyses to assess the impact of IPR&D expense and · alternative measurement approaches for public development-stage companies. ... Fig. 1 | 2021 global biopharmaceutical ecosystem R&D investment.

October 24, 2025 - It turns out that media, academic ... first comprehensive and reproducible measure of all ecosystem R&D investment at $276B globally in 2021....

February 9, 2023 - Cross-border data transfers are critical to the research, development, and delivery of new biopharmaceutical medicines to prevent and treat medical conditions and improve patients’ health. Cross-border Data Analytics and R&D Collaboration. Cross-border data analytics can help speed the early ...

July 8, 2026 - The United States has one of the world’s most supportive domestic environments for the development and commercialization of pharmaceuticals with minimal market barriers. The United States is one of the largest markets for biopharmaceuticals and is the world leader in biopharmaceutical R&D.

May 5, 2024 - full private biopharmaceutical R&D ecosystem · Global R&D volume · • · 2021 global R&D investment (Figure 2) was $276 billion across 4191 global companies, with total net revenues of $1022 billion across 583 companies. • · Of total R&D investment, 583 commercial-stage and 3608 ...

We first discuss the empirical evidence on the extent and nature of this process. We then examine whether this global spread of biopharmaceutical R&D supports or hurts host country knowledge activity. We conclude that foreign knowledge discovery by biopharmaceutical companies tends to complement, ...

Pharmaceutical R&D spending worldwide will exceed 300 billion U.S. dollars in the upcoming years. The U.S. is the global leader in life sciences research.

1 week ago - Bristol Myers Squibb is a global biopharmaceutical company committed to discovering, developing and delivering innovative medicines to patients with serious diseases.

July 1, 2026 - Biopharma companies based in other countries that are seeking to compete with these global leaders are now striving to improve their research and development (R&D) productivity with increasing investments in innovative and differentiated assets compared with their historical focus on generic drugs.