Business intelligence company GlobalData has released a report on mid-cap biotech companies and concludes that their research and development (R&D) spending increased significantly in the third quarter of 2012 ($746.8 million) when compared to the same period in 2011 ($621.1 million). Oncology R&D is apparently the “main focus” of these companies’ activities, according to a GlobalData analyst, and that is “driving peer group R&D expenses higher.” This analyst cautions that the high cost of R&D and bringing innovative products to market “continues to erode corporate profitability.” See GlobalData News Release, March 5, 2013.