Pharma industry lobbying hit $29M in 2019
The pharmaceutical industry upped its lobbying efforts in 2019, with a record-high of $29 million spent lobbying Congress, The Hill reported, citing recently released disclosure reports.
Compared to 2018, that’s a 5% increase by the Pharmaceutical Research and Manufacturers of America (PhRMA).
The increase in lobbying comes at a time when the pharma industry is facing renewed pressures as drug prices climb ever higher. The Trump administration has put forth several proposals and regulations attempting to reduce drug price increases over the last few years, including publishing the list prices of drugs in TV ads and an international pricing index for Medicare Part B drugs.
Lobbying efforts appear to have paid off, and the pharma industry continued to raise drug prices at the start of 2020.
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Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."