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US and Europe see falling industrial biomedical R&D

Industrial spending on biomedical R&D is declining in both the US and in Europe, according to an article published in The New England Journal of Medicine.

According to the article published on 2 January, US industrial R&D spending dropped from $83 billion in 2007 to $70bn in 2012. The fall in European industrial R&D spending from $56bn to $54bn in the same period was not as steep.

In contrast, publicly funded R&D spending on biomedicine held steady in both the US and Europe. In the US such spending ranged between $48bn in 2007 and $49bn in 2012. In Europe publicly-funded R&D was $27.7bn in 2007 and $28.1bn in 2012.

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