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PFIZER's 20% R&D INCREASE TO $2 BIL. IN 1997 LEADS 11.5% JUMP IN SPENDING BY RESEARCH-BASED COMPANIES; PhRMA PROJECTS $18.9 BIL. IN CORPORATE R&D THIS YEAR

Executive Summary

Pfizer's commitment to increase R&D spending in 1997 by 20% ($335 mil.) to the $2 bil. milestone dramatically exhibits the increasing escalation in drug industry funding for research and development projects.
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