Top 10 Biopharmaceutical R&D Budgets in 2022



 BtoBio Innovation 

Author: Jean-Claude Muller, 穆卓Executive Editor at BtoBioInnovation





Top 10 Biopharmaceutical R&D Budgets in 2022



Every year Fierce Biotech discloses the ranking of the R&D spending of the top ten biopharmaceutical companies in the world. The cumulative R&D spending of these companies is now close to $100 billion with a total 2022 revenue of $543.43 billion. The overall increase in R&D spending is slightly less than the one from 2020 to 2021 which should not be considered a slowdown in innovation.

The 2022 ranking is merely the same as in 2021 with Roche leading the pack with $15.15 billion, ahead of Johnson & Johnson. It is noteworthy that both companies are not pure biopharmaceutical players and have medical devices and diagnostic divisions.  Sanofi is back on the pitch, with a $7.2 billion spent on R&D in 2022 and eliminates GlaxoSmithKline from the top 10 list. There is still no Japanese company in the top 10 ranking.

A more thorough analysis of the various portfolio would be necessary to establish if major biotechnology collaborations have been boosting the pipelines, if there are already significant changes in R&D priorities following the COVID pandemic bonanza and how the internal versus external efforts are contributing to overall innovation.




R&D budget: 14.05 billion Swiss francs ($14.71 billion)
Change from 2021: 2.7%
Total 2022 revenue: 63.28 billion Swiss francs ($66.26 billion)
R&D budget as percentage of revenue: 22%


Johnson & Johnson

R&D budget: $14.6 billion
Change from 2021: -0.8%
Total 2022 revenue: $94.94 billion
R&D budget as percentage of revenue: 15.4%


Merck & Co.

R&D budget: $13.55 billion
Change from 2021: 10.6%
Total 2022 revenue: $59.28 billion 
R&D budget as percentage of revenue: 23%



R&D budget: $11.43 billion
Change from 2021: 10% 
Total 2022 revenue: $100.33 billion
R&D budget as percentage of revenue: 11.4%



R&D budget: $10 billion
Change from 2021: 5%
Total 2022 revenue: $50.55 billion
R&D budget as percentage of revenue: 20%



R&D budget: $9.76 billion
Change from 2021: 0.3%
Total 2022 revenue: $44.35 billion
R&D budget as percentage of revenue: 22%


Bristol Myers Squibb

R&D budget: $9.51 billion
Change from 2021: -6.7%
Total 2022 revenue: $46.16 billion

Eli Lilly

R&D budget: $7.19 billion
Change from 2021: 4%
Total 2022 revenue: $28.54 billion
R&D budget as percentage of revenue: 25% 



R&D budget: 6.71 billion euros ($7.06 billion)
Change from 2021: 18%
Total 2022 revenue: 43 billion euros ($45.22 billion)
R&D budget as percentage of revenue: 16% 



R&D budget: $6.51 billion
Change from 2021: -6%
Total 2022 revenue: $58.05 billion
R&D budget as percentage of revenue: 11.2%


Paris, March 28, 2023




This document has been prepared by btobioinnovation and is provided to you for information purposes only.  The information contained in this document has been obtained from sources that btobioinnovation believes are reliable but btobioinnovation does not warrant that it is accurate or complete. The views presented in this document are those of btobioinnovation’s editor at the time of writing and are subject to change.  btobioinnovation has no obligation to update its opinions or the information in this document.

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