The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier and more productive lives. Since 2000, PhRMA member companies have invested more than half a trillion dollars in the search for new treatments and cures, including an estimated $58.8 billion in 2015 alone.
PhRMA formed in 1958 to represent America’s leading biopharmaceutical research companies and help promote smart public policy that supports medical research to address patient needs. Headquartered in Washington, D.C., with offices in leading biopharmaceutical research communities across the country and around the world, PhRMA advocates for policies to support the discovery and development of innovative medicines for patients. PhRMA’s proactive policy priorities include: efforts to modernize the drug discovery, development and approval process, promoting value-driven health care, engaging and empowering consumers and addressing market distortions.
“At PhRMA, we are focused on our members’ efforts to spur research and development of new treatments and cures for patients. To do this, we need a policy framework that allows biopharmaceutical innovation to prosper and removes barriers to patients’ accessing lifesaving medicines,” said William Chin, M.D., chief medical officer and executive vice president at PhRMA.
As part of their efforts to bring new, innovative medicines and cures to patients in need, PhRMA member companies are driving the vast majority of R&D investment into new medicines for serious illnesses. In fact, PhRMA member companies have invested more than half a trillion dollars since 2000. This amount represents about one in every five dollars spent on domestic R&D by U.S. businesses.
PhRMA also plays an important role in the larger health care ecosystem that includes universities and government research centers like the National Institutes of Health (NIH). As a leader in this ecosystem, America’s biopharmaceutical companies conduct the critical R&D needed to bring new medicines to patients and bear the associated costs and risks.
As a result of past and current investments, the promise for patients has never been greater. Today, there are over 7,000 medicines in development worldwide, treatments like harnessing the body’s immune system to tackle cancer are becoming more common and increasingly, medicines are becoming personalized for patients’ individual needs.
One area where PhRMA member companies are rapidly making progress is in the autoimmune diseases space. In September, PhRMA released its Medicines in Development for Autoimmune Diseases 2016 report, spotlighting the more than 300 medicines currently in the research pipeline for autoimmune diseases. With more than 80 identified autoimmune diseases and more than 23.5 million Americans affected, the need to push these drugs through the pipeline is critical.
PhRMA’s members are proud to lead the way in R&D to bring new medicines to patients in need, and applauds all those within the medical research ecosystem working toward the same goal of improving patient lives.