Thursday, September 28, 2023
HomeWORLD NEWSFollowing their departure from PhRMA, three drugmakers reduced their lobbying expenditures.

Following their departure from PhRMA, three drugmakers reduced their lobbying expenditures.

Good morning, everyone, and welcome to the beginning of another work week. We hope the weekend break was restful and energizing, because the routine of online calls, meetings, and deadlines has resumed.

However, what can you do? No matter how hard we strive, the world will continue to spin. Therefore, it is time to prod it in the right direction with three cups of stimulation.

Today’s selection is salted caramel mocha with a dash of Jersey Shore. We invite you to join us. As you begin your journey, we have compiled a few items of interest for you to peruse. We hope that everything goes well and you conquer the globe. Moreover, please remain in touch….

The three companies that recently departed the Pharmaceutical Research & Manufacturers of America, the industry trade group, have all reduced their lobbying spending, according to newly released federal disclosures cited by STATSTAT.

The departures of AbbVie, Teva Pharmaceutical, and AstraZeneca occurred over the course of five months following the passage of the drug-pricing reform law advocated by Democrats last year.

How large members navigate their exits could be instructive for future firms deciding whether or not to remain members. The majority of PhRMA’s revenue comes from company dues, so departures are detrimental to its bottom line.

The Guardian reveals that drug companies fund grassroots patient groups that lobby the U.K.’s cost-effectiveness watchdog to sanction the launch of their drugs.

Since April 2021, 138 of the 173 drug appraisals conducted by the National Institute for Health and Care Excellence involved patient groups with a financial relationship to the drug’s manufacturer, or have since received funding. Frequently, financial interests were not disclosed explicitly in NICE documents.

Many of the organizations that received payments subsequently made impassioned appeals to NICE to approve their treatments. Others appealed NICE decisions when pharmaceuticals were denied because they were too expensive.

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