A survey by Farmaindustria found that Spain’s pharmaceutical industry spent €950 million ($1.06 billion) on R&D in 2014. This rise in investment followed three years of declines related to the economic crisis. Intramural research accounted for €568 million, or 59% of expenditures, while the remaining investment of €382 million was put toward research contracts with hospitals, research centers and universities. Spending on this extramural research increased about 1.5 percentage points in 2014, and, aside from the years of the economic crisis, has been stable over the last ten years. This is indicative of the value of extramural R&D for the pharmaceutical industry in Spain. Most of the R&D funds, €486 million, was for clinical research, followed by €126 million for basic research. Investment in biotechnology research jumped 12% to €224 million, accounting for 24% of Spain’s 2014 pharmaceutical R&D spending.

Source: The Pharma Letter