Threatened by regulated worth caps from congress, the pharmaceutical trade spent almost $390 million on lobbying in 2021 in keeping with new information from OpenSecrets.
Healthcare firms outspent each different trade on lobbying federal and state representatives final yr, in keeping with newly launched information from OpenSecrets.
Well being firms spent almost $690 million on lobbying federally, which was $175 million greater than the 2nd place class. Inside the trade, the most important lobbying payments have been racked up by pharmaceutical firms, which spend $356 million on federal lobbying alone. The trade spent $32 million within the 19 states that give entry to such information.
The chart under reveals lobbyist spending by every of the highest healthcare organizations. Pharmaceutical Analysis and Producers of America, PhRMA, was the third largest spender on federal lobbying of any firm in any trade in 2021.
A lot of the explanation for outsized spending by the pharmaceutical trade was associated to H.R. 3, a invoice that may cap drug costs at 120% of the common worth of the identical medication in different developed nations.