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Research outlays for new drugs hit $4.6 billion.

January 14, 1987

Gerald J. Mossinghoff, president of the Pharmaceutical Manufacturers Assn., said at a news conference that U.S. drug companies record research investments represented a 12% increase over 1985 and were made possible by strong worldwide sales of $36.1 billion. However, he added, the companies need a streamlined procedure for gaining permission to market the new medicines. He said 15 of the 20 new prescription products approved by the Food and Drug Administration last year had already been approved in a foreign country.

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