Massachusetts may not top the charts in terms of R&D employment any longer, but local companies are still spending billions developing new drugs.

The biotechnology and pharmaceutical industry spends more developing new products relative to from sales than most other industries, according to a 2018 report from industry group PhRMA. Altogether, these companies spent more than $71 billion last year.

Some of Massachusetts’ largest biotechs spent a substantial portion of their first-quarter expenses…

Boston Biz Journal