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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