Pfizer LeadsR&D Spending

Of the 2,000 companies compared by the European Commission in its annual scorecard for global industrial R&D investment, Pfizer spent the most last year. Pfizer sank $7.6 billion into research in 2006, overtaking Ford Motor Co. as the number-one spender. Pharmaceuticals and biotechnology emerged as the leading R&D investing sector, surpassing the technology hardware and equipment sector. Meanwhile, the chemicals sector bounced back with 9.8% growth in R&D investment in 2006, following a decline in 2005. Overall investment by the companies tracked by the scoreboard totaled $467 billion, a 10% increase. And R&D investment by European companies continues to lag that of the U.S.