PhRMA, the pharmaceutical industry trade group, took in nearly $527 million in revenue last year, a $68 million increase from 2018 that came as the industry faced unprecedented opposition in Washington.
The new revenue figure, made public late this year in PhRMA’s federal tax disclosures, highlights the group’s diverse efforts to influence Washington in a year when both the White House and newly empowered Democrats in the House of Representatives were intent on capping drug prices.
About the Author Reprints
The reason that PhRMA is so ineffective is because so many people get paid too much. They’re too cautious, too afraid to lose their cushy jobs, too paralyzed by fear they’ll get fired if they fail. There is not a single person there other than the CEO who would get a similar salary at another association or agency. I’m shocked the Pharma executives put up with that level of spending,