Biden’s move on vaccine patents represents blow for the second-biggest spender on Washington lobbying
The Biden administration’s Wednesday decision to support waiving intellectual-property protections for COVID-19 vaccines counts as a significant...
The Pharmaceutical Research and Manufacturers of America, or PhRMA, the companies’ main trade association, disclosed $8.54 million in outlays on lobbying during this year’s first quarter in an April 20 filing. Only one other organization reported spending more in the first quarter — the U.S. Chamber of Commerce, which shelled out more than $17 million. That’s according to an OpenSecrets.org analysis of filings.
PhRMA’s first-quarter disclosure shows it lobbied on many topics, including intellectual property, drug prices, the manufacturing of COVID vaccines and treatments, “Medicare for All” proposals, possible changes to Obamacare, supply-chain resiliency and trade agreements.
In 2020, PhRMA reported spending about $26 million on its efforts to influence U.S lawmakers and regulators, ranking third in outlays behind the National Association of Realtors with its $84 million in spending and the U.S. Chamber with its $82 million, according to OpenSecrets.org, which is run by the nonpartisan Center for Responsive Politics. PhRMA ranked fourth in outlays in 2019, 2018 and 2017. headtopics.com
From the archives (May 2019): Drugmakers’ lobbying spending at 10-year high as Washington targets soaring pricesPhRMA’s president and CEO, Stephen J. Ubi, was quick to criticize the Biden administration’s move via a statement issued Wednesday.“This decision will sow confusion between public and private partners, further weaken already strained supply chains and foster the proliferation of counterfeit vaccines,” Ubi said.
“It also flies in the face of President Biden’s stated policy of building up American infrastructure and creating jobs by handing over American innovations to countries looking to undermine our leadership in biomedical discovery. This decision does nothing to address the real challenges to getting more shots in arms, including last-mile distribution and limited availability of raw materials.”
The PhRMA chief said drugmakers are “fully committed” to providing global access to COVID vaccines and “collaborating at a scale that was previously unimaginable, including more than 200 manufacturing and other partnerships to date.” His industry “shares the goal to get as many people vaccinated as quickly as possible, and we hope we can all refocus on that shared objective,” he said.
Vaccine makers’ stocks fell Thursday as the broader S&P 500 index SPX, +0.23% gained 0.3%. Pfizer shares PFE, -1.63% dropped 1.9%, BioNTech BNTX, -0.82% was off 2.4% and Moderna MRNA, -1.57% lost 2.7%, while Johnson & Johnson JNJ, -0.01% slipped by 0.2% and AstraZeneca AZN, -0.97% shed 1%. headtopics.com
See: Vaccine makers lower after U.S. says it supports IP waiversAlso read: Global tally of COVID-19 cases tops 155 million as Biden supports waivers for vaccine patents Read more: MarketWatch »
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Leave it to a senile democRat to propse this nonsense. If Pfizer is forced to move its vaccine to generic then what will be the incentive when China brews up another nasty? Having been an adviser to both USTR and State protecting IP is a keystone of US trade policy. This seems very counterproductive.
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A Photo Of The Bidens With The Carters Is Freaking Everyone Out“What the f**k is going on in this photo?” asked 'Daily Show' host Trevor Noah. But there's a reason why the Bidens tower over the Carters in the viral image. I am an Iranian mother and teacher.I selected in the Diversity Visa 2019 and invited to the UAE for an interview, but my visa was denied under Muslim ban. My family and I paid a lot of money and spiritual cost. My little son asked: Does it mean that there is racism in America? social distancing
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Pharmaceutical association says Biden move on COVID-19 vaccine patent 'wrong answer'The International Federation of Pharmaceutical Manufacturers and Associations said on Wednesday that U.S. President Joe Biden's support for waiving patents of COVID-19 vaccines was 'the wrong answer' to a complex problem and called for more technology transfer agreements. retweet me! Of course they say that: they stand to miss out on billions of dollars. It’s as if the record profits they’ve already made this year aren’t enough to sate their voracious appetite for money. Why because they’ll lose billions?