Abstract:Regarding those high-tech enterprises, in order to further explore the correlation, interaction mechanism and collaborative obstacle between their efficiency of R&D ( research and development) and their efficiency of information technology (IT) investment, 43 large listed companies in China's biopharmaceutical industry are selected as the objects of empirical study. Based on public data on annual report of those large companies, the analyses are conducted with the other 43 listed small and medium-sized enterprise in China's biopharmaceutical industry, whose data is treated as a supplement. The results show that the information technology investment efficiency and R&D efficiency of large listed biopharmaceutical enterprises in China have a large space for improvement. Those enterprises with low R&D efficiency but low IT investment efficiency should further improve the IT investment efficiency and governance capability of IT. Those enterprises with high IT investment efficiency but low R&D efficiency need to pay more attention to how to further improve R&D output by relying on the advantages of information technology efficiency and governance capability of IT.