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As of January 2026, Swiss-based company Roche ranked second among the world’s leading pharmaceutical companies, with *** products in its R&D pipeline. Among the top 15 companies globally by pipeline size, six were based in the United States.

What is pharmaceutical R&D about?

Pharmaceutical research and development involves all steps of discovering and developing a new drug: from the initial research of disease processes and compound testing to pre-clinical and all clinical trial stages. At a certain point in this process — usually during the pre-clinical phase – a governmental authority is involved to oversee, regulate, and eventually approve the product. In the United States, the Food and Drug Administration (FDA), headquartered in White Oaks, Maryland, is the principal agency associated with these processes.

Innovation is the key

More than most other industries, pharmaceutical companies are under pressure to develop new, innovative products. Time-limited patent protection of their products and the following threat of a sales slump through generic and biosimilar competition are the major reasons. Accordingly, drug manufacturers must invest significant amounts into research and development. Compared to other industries, the pharmaceutical sector has by far the highest R&D expenditures per employee. With the increasing complexity of pharmaceutical R&D over the last two decades, the number of research collaborations is also clearly on the rise.