Is the Context of R&D Narrative Contingent on R&D Expenses or R&D Intensity? Evidence from European Biopharmaceutical Companies

Abstract :

The business activity of biopharmaceutical companies is affected by quickly changing technologies, need for highly skilled employees as well as intensive efforts directed at effective managing R&D expenses, launching new products and attaining marketing approvals issued by regulatory authorities. Interestingly, R&D budget managers more and more often face a problem of delivering better R&D performance with limited budgets. Whereas new products in order to gain reimbursement have to indicate a significant improvement of treatment effectiveness over the existing therapies (Deloitte, 2015).