Select your localized edition:

Close ×

More Ways to Connect

Discover one of our 28 local entrepreneurial communities »

Be the first to know as we launch in new countries and markets around the globe.

Interested in bringing MIT Technology Review to your local market?

MIT Technology ReviewMIT Technology Review - logo

 

Unsupported browser: Your browser does not meet modern web standards. See how it scores »

The Innovation Index, as calculated by Technology Review, takes into account not only the size of a company’s R&D budget but also its increase in spending and the amount spent in relation to sales. Nonetheless, the second-largest R&D spender, Pfizer, comes out at the head of the pack.
Rank by Innovation Index Company Innovation Index R&D 2003 ($Mil) R&D percent change Absolute change in R&D spending ($Mil) R&D as a percent of sales
1 PFIZER $178 $7,131 38% $1,955 16%
2 AMGEN $149 $1,655 48% $539 20%
3 NOKIA $146 $4,514 23% $850 13%
4 JOHNSON and JOHNSON $141 $4,684 18% $727 11%
5 BMC SOFTWARE $138 $586 20% $96 41%
6 VOLKSWAGEN $138 $4,233 22% $762 4%
7 SONY $136 $4,683 16% $649 7%
8 MERCK (U.S.) $135 $3,178 19% $501 14%
9 SERONO $134 $468 31% $110 25%
10 ASTRAZENECA $134 $3,451 12% $382 18%
11 MICROSOFT $133 $4,659 8% $352 14%
12 ROCHE $133 $3,694 12% $396 15%
13 NOVARTIS $133 $3,756 12% $394 15%
14 INTEL $132 $4,360 8% $326 14%
15 NISSAN MOTOR $129 $3,225 18% $491 5%
The Innovation Index is calculated by indexing each of the four R&D measures shown to the highest-performing company and then creating a combined, unweighted average. Source: Standard and Poor’s, Technology Review

0 comments about this story. Start the discussion »

Tagged: Computing, Business

Reprints and Permissions | Send feedback to the editor

From the Archives

Close

Introducing MIT Technology Review Insider.

Already a Magazine subscriber?

You're automatically an Insider. It's easy to activate or upgrade your account.

Activate Your Account

Become an Insider

It's the new way to subscribe. Get even more of the tech news, research, and discoveries you crave.

Sign Up

Learn More

Find out why MIT Technology Review Insider is for you and explore your options.

Show Me