Posted by Michael Wonder on 12 Aug 2022
US move to negotiate drug prices a rare defeat for big pharma
12 August 2022 - Big pharma spent more than any other industry to lobby Congress and federal agencies this year, a Reuters analysis shows, but is still on course for a major defeat by failing to stop a bill that allows the government to negotiate prices on select drugs.
Despite the pharmaceutical industry spending at least $142 million on lobbying efforts, the $430 billion Inflation Reduction Act to change climate, health, and tax policies cleared its largest hurdle last week when Democratic lawmakers passed it in the Senate.
