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Pfizer raises R&D spending

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Pfizer Inc. plans to spend more on research and development, according to The Wall Street Journal.

Officials with the New York City-based drugmaker raised the company’s projections for R&D spending to a range of $7.7 billion to $8.1 billion. That’s up from a previous forecast of $7.4 billion to $7.9 billion.

The company expects 25 to 30 new drugs from its pipeline will be approved through 2022.

Read more from The Wall Street Journal.

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