KRPIA member companies spending 122 billion won for R&D

President Maag Timney of KRPIA said on Feb. 24 by quoting the latest statistics released in the United States that the PhRMA, an American research based pharmaceutical corporation group, spent about $39.4 billion (39,400 billion won) for the R&D of the biomedical and other new drugs in 2005, 6.5% up from the previous year of $37 billion.

The report said that the R&D investment for the biomed...