PhRMA raises dues for drug companies
Drug companies will collectively pay an extra $100 million in annual membership dues to industry group Pharmaceutical Research and Manufacturers of America (PhRMA).
POLITICO reports the hike in what PhRMA takes in dues—which will now total more than $300 million annually—may be a “war chest” for the trade group to fight legislation targeting the pharmaceutical industry. Dues were lowered after the Affordable Care Act, though the group hasn’t skimped on lobbying, spending $11.8 million so far this year, according to POLITICO, making PhRMA the fourth-largest lobbying group.
Congress has begun paying closer attention to big hikes by drug companies, like how Mylan increased the price for the EpiPen by more than 400 percent since acquiring the autoinjector. U.S. Sen. Dick Durbin, D-Illinois, the no. 2 Democrat in the Senate, has promised to go after the pharmaceutical industry for “out of control” prices, beginning with a bill which would require companies to justify increases above 10 percent.
Lawmakers’ efforts could have big support as public opinions appears to be against the industry. A Gallup Poll released in August found that 51 percent of respondents had a negative view of drug companies, with 28 percent having a positive view and 19 percent feeling neutral.
For more on the increased dues could help PhRMA fight both legislative proposals and public perception, click on the link below:
John joined TriMed in 2016, focusing on healthcare policy and regulation. After graduating from Columbia College Chicago, he worked at FM News Chicago and Rivet News Radio, and worked on the state government and politics beat for the Illinois Radio Network. Outside of work, you may find him adding to his never-ending graphic novel collection.