The purpose of this study was to examine whether R&D expenditure affects the management performance of firms for Bio-Pharmaceutical firms, focusing on KOSPI and KOSDAQ Bio-Pharmaceutical firms. The research subjects analyzed the December settlement companies listed on KOSPI and KOSDAQ from 2018 to 2022 by designing R&D expenses as corporate net profit, sales, return on investment , and export as independent variables. As a result of the analysis, it was found that R&D expenses of Bio-Pharmaceutical firms have a significant positive(+) effect on the growth of the company's sales and a significant negative(-) effect on exports and return on investment(ROI). In other words, Bio-Pharmaceutical firms drew implications that the higher the R&D cost, the higher the sales, and the lower the export amount and return on investment capital. Unlike previous studies that studied the relationship between R&D expenses and management performance, this study is meaningful in that it limited the sample to pharmaceutical bio companies and analyzed the company's management performance to export performance. Therefore, it is expected to contribute to the efficient investment of R&D costs by the government and companies, such as strengthening basic research and promoting industrialization of the pharmaceutical bio industry. It is also expected to contribute to understanding the effects of R&D investment by pharmaceutical bio companies and presenting detailed support policy directions.