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Investment In New Products: Looking Beyond The R&D Line

 
• By Edwin Elmhirst

Johnson & Johnson and Roche lead the most recent Scrip 100 ranking for R&D spend, but a look beyond investment in internal development highlights a big year for Pfizer and Bristol Myer Squibb.

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The Scrip 100 leading five companies, according to R&D spend for 2022, shows many of the usual suspects at the top of the rankings (see Exhibit 1). However, a deeper look at these numbers and taking into account “external” R&D spend such M&A and licensing reveals some upsets and surprise appearances.

Johnson & Johnson and Roche Holding AG’s top billing according to the research spend metric is, perhaps, unsurprising. Both companies, in addition to their large presence in biopharma, have portfolios in diagnostics and medtech – which also require R&D budgets. However, comparing R&D spent only on pharmaceutical projects shows Roche spent $12.7bn in 2022 pushing it ahead of the previous year’s pharma only leader, Pfizer Inc. (see Exhibit 2)

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