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GLOBALOUTLOOK R&D


Healthcare pushes spending While big techandsemiconductor firms rampeduptheir investments, anothernotable groupofmajorR&D spenderswere in the life sciences— particularly those focusedonpharma- ceuticalsandbiotechnology. In 2020, US-basedMerck&Cospent $13.56bn onR&D, followed by othermajor drug manufacturers including Switzerland- basedRoche Holdings ($13.53bn),and US-based Johnson&Johnson ($12.15bn), Bristol-Myers Squibb ($11.14bn)and Pfizer ($9.41bn). As theworld has rushed to


develop efficacious vaccines in the fight against Covid-19,R&Defforts to discover drugs to fight coronavirus and existing diseases have been increased. US-based biopharmaceuti- calcompany Incyte increased its annualR&Dexpenses by92%between 2019 and 2020, themost out of any company in the top100 list. It was fol- lowed by two other life sciences com- panies, Bristol-Myers Squibb (81.25%) and Biogen (74.99%). Delaware-based Incyte also


ranked as the highestR&Dspender relative to its annual revenue, having spent 83%of the $2.67bnbrought in by thecompany last year. At the end of 2020, Incyte had


1173employees globally, of which 930worked inR&D,where they focus on drug discovery within oncology, inflammationand autoimmunity. SuchR&Dintensity is expected to be rolled out across the industry too.


26


Between 2019 and 2026, global phar- maceuticalR&Dspend is forecast to growat an average annual rate of 3.2% to reach$233bn, according to EvaluatePharma.


Digitalandenvironmental drive Innovation is also being scaledupin other industries that are striving to producemore sustainable products andreduce their environmental impact. As the automotive industry con-


tinues to electrify and digitalise, sev- eralmajor players, suchas Germany’s Volkswagen ($16.96bn), Daimler ($7.47bn) andBMW($6.95bn), as well as US competitors Ford ($7.1bn) and GeneralMotors ($6.2bn),maintained bigR&Dbudgets in 2020. Owing to a lack of availableR&D


figures, several Japanese carmakers were not included in this analysis. Nonetheless, Honda stood out withan R&Dspend of $6.7bn, according to Ycharts data.However, all but automo- tivecompanies Tesla ($1.49bn) and Valeo ($2.07bn) in the top100 reduced their spending onR&Din 2020 com- pared withthe previous year. Telecommunications and digital


hardware providers, including Cisco systems($6.25bn) and Dell Technologies ($5.2bn), have also con- tinued theirR&Dto get ahead of their competition andmeet increasing cli- entdemands. The same is seenin the industrial space, with SiemensAGspending


www.fDiIntelligence.com April/May 2021


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