America's biopharmaceutical sector is, by any reasonable measure, the world's most innovative and productive. The industry today has more than 3,400 drugs under clinical development, including many that are firsts of their kind. Because this research and development (R&D) pipeline is so robust, the U.S. Food and Drug Administration in the last decade-and-a-half has been able to approve more than 500 new medicines, providing new and better treatments for a wide variety of diseases. The industry also stands as a source of economic strength and competitive advantage for the United States, producing nearly $100 billion in value added and more than $50 billion in exports annually while supporting some 3.4 million jobs.
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