The pharmaceutical industry’s powerfulWashington trade association fell in size by almost two dozencompanies after revising membership rules amid the debate overU.S. drug prices.

Pharmaceutical Research and Manufacturers of America, or PhRMA,will require that members spend at least $200 million a year onresearch and development and that their R&D spending is atleast 10 percent of global sales.

The changes, reported by Bloomberg Sunday, follow a three-monthreview that has already seen several member companies leave thelobbying group.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.