As a percentage of gross domestic product, US R&D spending lies behind that of Japan, Korea, Finland and Iceland. Corporate R&D has been in a tailspin since 2001, but in the United States other sources have taken up the slack. On the whole, for biotech companies this has meant fewer research deals from their pharma partners. Double-digit growth in R&D budgets (typically about one-quarter of revenue) is common at large biotechs; small firms are building smaller R&D budgets at an even brisker pace.

In constant 1996 dollars. 2003 data is preliminary. Credit: Source: National Science Foundation
Includes research deals, collaborations and product acquisitions. Credit: Source: Windhover, Burrill & Company
Top 20 pharmaceutical companies as determined by sales. Credit: Source: Windhover, Burrill & Company
Credit: Source: OECD
Includes research deals, collaborations and product acquisitions for pharmaceutical and biotechnology companies. Source: Windhover, Burrill & Company. Credit: Source: Windhover, Burrill & Company
Credit: Source: Revere Research; Company Data