Pharmaceutical Companies Seek Stability in Trump Drug Cost Fight - (Bloomberg via NewsPoints Desk)

  • A number of major pharmaceutical companies, including Johnson & Johnson and Bayer, lowered their spending on lobbyists in the second quarter of 2018, compared with the first quarter, amid the first signs of the Trump administration's moves to reduce out-of-pocket medicine costs, reported Bloomberg.

  • The Pharmaceutical Research and Manufacturers of America (PhRMA) spent $5.54 million between April and June, down 7.7 percent from the same period last year, according to disclosures released by the federal government.

  • Lobbying efforts by Merck & Co. cost $830 000 in the second quarter, representing a 57.9-percent decrease from last year, while Pfizer spent $1.94 million on lobbying in the second quarter, a 2.1-percent increase since last year.

  • Meanwhile, Novartis' spending on lobbyists decreased to $860 000 from $3.28 million during the second quarter.

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