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Drug Prices Are Increasing. So Is Big Pharma Lobbying

April 26, 2018

Via: Fortune

The outlook was grim for Novo Nordisk at the end of 2016. As pressure mounted over its rising insulin prices, investors drove the stock down by a third, fearing that lawmakers would cap price tags and hurt profits.

So last year the company engaged in a time-­honored response to public criticism. It gave $405,000 in campaign contributions (double the amount in 2015), according to data compiled by Kaiser Health News. It also spent $3.2 million on lobbying and mobilized 400 employees to contact lawmakers. “We remain committed to being part of the discussion,” a company spokeswoman said.

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