Biotech Values

[DewDiligence]

R&D Spending* Per New Drug

The following is an edited version of the table from Matt Herper’s article
in Forbes (http://www.forbes.com/sites/matthewherper/2012/02/10/the-truly-staggering-cost-of-inventing-new-drugs ). The numbers are based on cumulative
results during the 15-year period from 1997-2011 inclusive; the table rankings
are in descending order of R&D productivity.

 
         Cumulative   # New  R&D Per 
        R&D Expenses  Drugs  New Drug 
 AMGN      $33B         9     $3.7B 
 NVS        84         21      4.0 
 BMY        46         11      4.2 
 MRK        67         16      4.2 
 ABT        36          8      4.5 
 LLY        50         11      4.6 
 JNJ        88         15      5.9 
 PFE       108         14      7.7 
 Roche‡     86         11      7.8 
 SNY        63          8      7.9 
 GSK        82         10      8.2 
 AZN        59          5     11.8

*Including the cost of failed programs.

‡Includes DNA’s new drugs licensed by Roche and a pro-rata share of DNA’s R&D while majority owned by Roche.