Although Pfizer’s R&D spending went down 2.6 percent, the $7.7 billion it devoted to innovation still put it at No. 5 on the Top 10 list. Founded in 1849, the New York City-based pharmaceutical company saw total revenue and net income increase in the period. In its 2009 annual report, the company said it is trying to focus on “areas of great unmet medical need” and R&D “specifically for underserved people in the developing world.” The company had almost 60 compounds in development as of January 2010.
Mark Lennihan/AP/File
