> pharmaceutical and biotechnology sales revenue increased from $534 billion to $775 billion between 2006 and 2015
> worldwide company-reported R&D spending, most of which went to drug development (rather than research) ... $89 billion in 2015 dollars
> During the same period, federal spending, which funded a greater amount of basic research relative to industry, remained stable at around $28 billion
So only ~11% of total revenue was being reinvested, mostly into drug development.
And basic research was funded largely by federal spending.
> pharmaceutical and biotechnology sales revenue increased from $534 billion to $775 billion between 2006 and 2015
> worldwide company-reported R&D spending, most of which went to drug development (rather than research) ... $89 billion in 2015 dollars
> During the same period, federal spending, which funded a greater amount of basic research relative to industry, remained stable at around $28 billion
So only ~11% of total revenue was being reinvested, mostly into drug development.
And basic research was funded largely by federal spending.
[1] https://www.gao.gov/products/gao-18-40