The US pharmaceutical market pulled in $276.68bn in revenues in 2009, while the OTC pharmaceuticals sector also did well, earning total revenues of $23.6bn the year before.

Overall, the US pharma market grew 2.8% from 2005 to 2009, according to market information released by Datamonitor.

The research revealed that the biotech market showed a compound growth rate of 12.7% from 2004 to 2008, recording total revenues of $91.9bn for 2008.

The generic market grew at an annual rate of 10.4% over the four years leading up to 2008, bringing in $105.4bn in 2008.