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Innovate for value by investing more in research & development

We are accelerating our rate of innovation by investing more in research & development to support projects that will move clinical and cost boundaries and deliver maximum value.


R&D investment now represents 5.3% of 2013 revenue, an increase in spending of 35% in reported terms.

R&D Expenditure1

+18%   $231m

As a percentage of
Group revenue


We have maintained our strong momentum of introducing new products:

Global outlook

Innovation offers the key to meeting the realities of healthcare and economic paradigm in both Established and Emerging & International Markets. New products, technologies and surgical techniques hold the potential of reducing the overall cost of healthcare.



2011 includes Clinical Therapies revenue of $237m
2012 includes Clinical Therapies revenue of $107m
1 The underlying percentage increases/decreases are after adjusting for the effect of currency translation and the inclusion of the comparative impact of acquisitions and exclusion of disposals.
2 Explanations of these non-GAAP financial measures are provided on pages 161 to 163 of our Annual Report .