Opinion | Drug companies are warning that Medicare pricing reform spells doom. Don't fall for it. - The Washington Post

But according to our analysis, that $25 billion in R&D spending accounts for only five drugs developed in these giants' own labs. That's 1.2 percent of the 430 drugs approved by the Food and Drug Administration in that period. In fact, the largest drug companies are only one-fifth as efficient as the overall industry in R&D. The big companies spend $5 billion per newly developed homegrown drug; the industry average is closer to $1 billion.

https://www.washingtonpost.com/opinions/2022/08/08/drug-companies-medicare-pricing-reform/