And the Award for the Pharma/Biotech Company that Spent the Most Money Lobbying Congress in 2007 Goes to....
Last year was a banner year for the pharmaceutical lobby (the largest in Washington DC). It spent over $168 million to inform Congress about issues that its members thought were in the best interest of the pharmaceutical and biotechnology industries. So what were the main issues that occupied a majority of the lobby’s time?
- blocking the importation of inexpensive drugs from other countries
- protecting pharmaceutical patents both within the United States and abroad
- ensuring greater market access for pharmaceutical companies in international free trade agreements
You are probably wondering which company was the top spender—it was Amgen! As you may recall, Amgen’s EPO franchise was under intense medical, regulatory and congressional scrutiny because of safety issue that resulted from over prescription. In my limited understanding of how things work in Washington, I have been told by lobbyist friends of mine that there is no better way to solve nagging problems than by paying influence peddlers to make them go away. That said, Amgen’s lobbying costs paled in comparison with the $23 million spent by Pharmaceutical Research and Manufacturers of America a pharmaceutical industry trade group. You Go PhRMA!!!!
A quick perusal of the top lobbying list reveals that all major US pharmaceutical companies invested heavily to influence members of Congress to allow them to preserve their stranglehold on the American healthcare system. Not surprisingly, all of the major foreign pharmaceutical manufacturers were also on list. Much to my surprise, Teva, the Israeli generic manufacturing giant made the list this year—so it goes!
I guess altruism is out and avarice is still in! Hat tip to Pharmalot.
Until next time….
