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Home Industry News AbbVie Leaves Multiple US Pharmaceutical Organisations

AbbVie Leaves Multiple US Pharmaceutical Organisations

20th December 2022

Pharmaceutical Research and Manufacturers of America has announced that AbbVie Inc is terminating their position within the organisation.

AbbVie is apparently also departing Business Roundtable, a non-profit lobby organisation, and the industry association Biotechnology Innovation Organization.

Early in 2022, pharma companies were unsuccessful in preventing a measure that gives the government the power to negotiate prescription costs.

The pharmaceutical sector expenses surpassed $142 million just on protesting against US Congress and federal agencies in the first six months of the year.

Beginning in 2026, the government will be allowed to select 10 medications from a list of the 50 most expensive ones and advocate for better prices for Medicare, the healthcare programme for those 65+ or handicapped. This is a result of President Biden’s signature Inflation Reduction Act.

Without identifying the organisations, AbbVie explained that it routinely assesses its memberships and has made the decision not to repeat trade with some of them.

A Pharmaceutical Research and Manufacturers of America rep said that “AbbVie has decided not to renew their membership with PhRMA in 2023. This does not change our focus on fighting for the solutions patients and our health care system need.”

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