In August, the Department of Health and Human Services announced 10 drugs selected for the first round of Medicare price negotiations. This is a landmark initiative established by the Inflation Control Act of 2022, which seeks to bring down the country’s uniquely astronomical prescription drug prices.
The drug companies publicly refused and filed lawsuits, but eventually came to the negotiating table. But it was far from their first protest against Democratic-led efforts to reform U.S. drug prices. Far more prescription drugs than in other high-income countries.
In 2022, PhRMA, the pharmaceutical industry’s largest lobbying group, donated a record $7.5 million to American Action Network (AAN), a Republican-aligned underground finance group. AAN spent millions of dollars on advertising against drug price reform that year, some of which it turned a profit. Joined the Inflation Control Act.
This revelation was published in issue 1, a campaign finance reform advocacy group that examined federal tax returns. In Issue 1, he also highlighted that the $7.5 million donation was the largest donation ever given by PhRMA to her AAN.
From 2010 to 2022, PhRMA donated more than $34.5 million to underground finance groups. In 2016, PhRMA donated $6.1 million to his AAN. secretly supported aggressive Republican efforts to repeal the Affordable Care Actended up failing.
Nick Penniman, CEO of Issue One, said in a statement: “Public policy decisions should be made on behalf of the people’s interests, and the forces involved in making policy should not be in the dark. “They should be active in the sunlight without being exposed to sunlight.” “Unfortunately, our findings suggest that neither is true when it comes to the pharmaceutical industry. This is bad for public health, bad for government spending, and bad for Americans who can’t afford the medicines they need. It is unfortunate.”
Black finance groups like AAN are politically active groups and do not have to publicly reveal their donors. However, certain donors, including PhRMA, are required to report their contributions as expenses on their tax returns.Obtained the 1st issue Annual tax return PhRMA was filed with the IRS last week.
Politico also reported PhRMA will donate $1.6 million to centrist black-finance group Center Forward in 2022funneled money to Democratic lawmakers and thwarted the party’s drug price reform efforts.
