WASHINGTON — The three companies that recently left PhRMA all spent less on lobbying following their departures, according to newly released federal disclosures.
PhRMA, the brand-drug industry trade group, lost three members over a span of five months following the passage of Democrats’ drug pricing reform law last year. How large members navigate their exits could be instructive to other firms making decisions about their continued membership in the future. Much of PhRMA’s revenue comes from company dues, so exits hurt the group’s bottom line.