US pharma lobby nears spending records with drug prices under fire - (Bloomberg via NewsPoints Desk)

  • Lobby spending by the pharmaceutical industry in the US approached record levels in the first three months of the year as pressure on drug pricing has increased, Bloomberg reported.

  • The Pharmaceutical Research and Manufacturers of America spent about $9.9 million in the first quarter, versus $6 million in the year-ago period.

  • The administration of President Donald Trump has proposed several new rules and approved a number of generic drugs in an effort to control price increases.

  • According to disclosures, AbbVie, AstraZeneca, Bayer, Biogen, Bristol-Myers Squibb, Merck & Co., Novartis, Pfizer and Sanofi all increased lobby spending in the quarter ended March 31.

  • In addition, America's Health Insurance Plans spent nearly $2.9 million on lobbying, up 26 percent versus the year-ago quarter.

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