R&D spending share of top pharmaceutical companies 2023

Published by
Matej Mikulic,
Nov 9, 2024
In 2023, pharmaceutical companies AstraZeneca spent over 23 percent of its prescription drug revenues on research and development. In general, big pharmaceutical companies spend around 20 percent of their revenues on research and development.

Global R&D spending

In 2023, the pharmaceutical industry spent some 260 billion U.S. dollars on research and development, which is an increase compared to the previous year. By 2028, expenditures are expected to reach a total of over 300 billion U.S. dollars. Some 22,800 prescription drugs were in the 2024 R&D pipeline, a global number that has been growing with each consecutive year. The drug count has tripled since 2006 and is set to increase even further in the future.

AstraZeneca

AstraZeneca is a British-Swedish multinational pharmaceutical company, based in Cambridge, United Kingdom. One of the company’s top products in 2023 was Tagrisso, which is used in the treatment of certain types of non-small cell lung carcinoma. The product generated 5.8 billion U.S. dollars in revenue that year. Revenue earned through Tagrisso has increased significantly over the last years.

R&D spending as revenue share of leading 10 pharmaceutical companies in 2023

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Release date

June 2024

Region

Worldwide

Survey time period

2023

Supplementary notes

R&D spending as a share of total prescription revenue. The statistic includes the top 10 companies based on prescription drug revenue in 2023.
* This total reflects a $5.5 billion charge for Merck’s collaboration with Daiichi Sankyo, and also includes charges of $11.4 billion in the aggregate for Merck’s acquisitions of Prometheus Biosciences, Inc. and Imago BioSciences, Inc.

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Pharmaceutical research and development (R&D)Global pharmaceutical industryPharmaceutical industry in the U.S.Top pharmaceutical drugsCoronavirus (COVID-19) vaccines and treatments
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