Business & Finance
11:27 PM

Biotechnology & Pharmaceuticals: Here & Now: IT Staff, It Services Lead Budget

An industry known for having deep pockets, the biotechnology and pharmaceutical sector is one of this year's InformationWeek 500 top spenders on IT salaries and budgets (39%), tying with consumer goods and one-upped only by energy and utilities (40%) and the biggest spender on IT salaries, insurance (44%). It also recorded one of the larger percentages of annual revenue devoted to IT -- 3.3%. Surprisingly, R&D gets only 4% of the budget. The charts below outline the business, technology, and budgeting strategies of the biotechnology and pharmaceuticals companies selected in the InformationWeek 500.

Budget Breakdown

Tech Innovation

Inside Biotechnology & Pharmaceuticals
3.3% of Industry's Annual Revenue Devoted to IT
43% of IT Budget Devoted to New Projects
44% of Companies Expecting 2006 IT Spending to Exceed 2005

Business Change
30% Creating New Products/Services for Customers in 2006
89% with Global Supply Chain
11% Deploying Business Intelligence Tools to Raise Productivity

Return to the 2006 InformationWeek 500 homepage

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