More money for R&D in animal health
Animal Health Institute member companies spent $663 million in 2006 – a 7% increase over 2005– to research and develop potential new products and to maintain the longevity of existing products, according to AHI’s latest Research and Development Survey.
“Keeping animals healthy is critical to keeping people healthy,” said AHI
President and CEO Alexander S. Mathews.
“The strong investments in
research and development have resulted in products that prolong the quality and
length of life for our pets and contribute to a safe food supply by keeping farm
animals healthy.”
Expenditures within categories also track with sales
figures, as the biologics category experienced the greatest increase in research
and development investment and the largest percentage increase in
sales.
The amount of investment directed toward the development of new
products rather than maintaining the effectiveness of existing products held
steady in 2006.
AHI members were asked to report innovative research, or
investments in the search for new animal health products, and maintenance
research, or revenue spent in support of existing products.
As in 2005,
2006 innovative research, represented 86% of total R&D spending. The
remaining 14% went toward research to ensure the longevity of existing
products.
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