For example, a recent report of the GAO concluded that between 1993 and 2004 annual research and development spending by the pharmaceutical industry increased 147 percent, to $60 billion. But the report observed during the same period the number of new drug applications to the FDA grew by only 38 percent, and that new applications have generally declined since 1999. | For example, a recent report of the GAO concluded that between 1993 and 2004 annual research and development spending by the pharmaceutical industry increased 147 percent, to $60 billion. But the report observed during the same period the number of new drug applications to the FDA grew by only 38 percent, and that new applications have generally declined since 1999. |