By Donald Zuhn --
In 2007, patent reform and biologics legislation became front burner issues. Not surprisingly, this did not escape the notice of many biotech and pharmaceutical companies, and for the past few months we have been paying close attention to reports concerning the lobbying efforts of such companies. We have already discussed the money spent on lobbying by Millennium Pharmaceuticals ($1.28 million), Genentech ($1.8 million), and AstraZeneca ($4.1 million). Most of these funds presumably went to lobby on the patent reform and biologics bills that were being considered by Congress last year.
Last week, Forbes.com reported that Abbott Laboratories has vaulted to the front of the pack by spending $4.4 million on lobbying. Not all of Abbott's lobbying costs were applied to the patent reform and biologics bills, however, as the company also lobbied for changes to the tax code that would reward businesses for investing in research, and supported funding to raise kidney disease awareness and help purchase AIDS medication.
For additional information regarding this topic, please see:
• "Biotech and Pharma Companies Spent Millions on Lobbying in 2007," March 5, 2008
• "Millennium Pharmaceuticals Spent $1.28 Million on Lobbying in 2007," February 8, 2008
Comments