Even if government subsidizes are half of all r&d, that doesn't mean it isn't one of the largest costs for these companies. Additionally, I'd wager the biggest

Even if government subsidizes are half of all r&d, that doesn't mean it isn't one of the largest costs for these companies. Additionally, I'd wager the biggest pharma companies are getting the lionshare of the subsidies. And if it isn't r&d spend what else is it? Marketing costs aren't nearly as front loaded as r&d. In other words, if marketing isn't paying off, you can cut back. If r&d isn't, you already spent it and you are in trouble.