Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

Drug Lobby Spends Record Amount in Fight Over Medicine Costs (1)

Jan. 22, 2020, 3:59 PM

The main lobbying association for drug makers, the Pharmaceutical Research and Manufacturers of America, spent a record $28.9 million on lobbying last year as it pushed back on legislation meant to control the price of medicine.

The trade group asked lawmakers instead to create an out-of-pocket cap for prescription drugs under Medicare instead of going after drug prices.

The amount spent by PhRMA was up 5% from the year before, according to the federal lobbying disclosures filed Tuesday.

PhRMA representatives landed a crucial meeting with President Donald Trump last summer to discuss pricing. The industry is concerned about a proposal ...