The pharmaceutical industry had a promising year in 2013, with total drug spending increasing sharply to 3.2%. However, the industry must prepare for new medicines and changes in 2015. This document analyzes the key factors in 2013 and the first quarter of 2014, including the top 10 drugs by sales and top therapeutic classes. It also lists the top 20 companies by promotional spending in 2013. Finally, it provides a brief overview of the drug development and FDA approval process.