Pharmaceutical industry spends record $4.1 billion on federal lobbying in 2022

Federal lobbying spending reached $4.1 billion in 2022, the highest since 2010. No overall industry spent more money on federal lobbying than the pharmaceutical industry. The Pharmaceutical Research & Manufacturers of America (PhRMA), the trade group representing drug manufacturers, was the largest individual lobbying spender at $29.2 million. PhRMA's lobbying overwhelmingly focused on the Inflation Reduction Act, which included provisions to lower prescription drug prices. The trade group repeatedly opposed the bill, warning it would put in place unprecedented government price setting that jeopardizes access to medicines and future innovations.