The pharmaceutical industry’s powerful Washington trade association fell in size by almost two dozen companies after revising membership rules amid the debate over U.S. drug prices.
Pharmaceutical Research and Manufacturers of America, or PhRMA, will require that members spend at least $200 million a year on research and development and that their R&D spending is at least 10 percent of global sales.
The changes, reported by Bloomberg Sunday, follow a three-month review that has already seen several member companies leave the lobbying group.
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