How is R&D spending affecting Biotech company growth?

Biotech companies are the biggest Research and Development spenders proportional to their revenue numbers. As of 2019, many of the largest pharmaceutical firms spend nearly 20% on R&D. Of the 20 largest R&D spending industries in the world, the pharmaceutical industry makes up nearly half the list. But does the R&D spending have an effect on revenue growth? This article finds if an increasing R&D spending account to an increase in revenue and vice versa.  First of all, does R&D spending correlate with revenue in the first place? The companies in the Global Innovation 1000 spent about 750 billion dollars…...