British drug giant AstraZeneca is joining the PhRMA exodus.
With its recent decision to leave the influential U.S. lobbying group, AZ is the third company to leave the Pharmaceutical Research and Manufacturers of America in the last six months.
The company joins AbbVie, which ditched the group in December, and Teva, which walked away in February.
The news was first reported by Politico. AstraZeneca made the move after “a recent assessment” of its membership, a company spokesperson told Fierce Pharma in an emailed statement.
“We regularly evaluate our memberships with industry trade associations to ensure alignment with our purpose to accelerate the delivery of life-changing medicines that create enduring value for patients and society,” the spokesperson said, adding that the company wants to ensure that its involvement is the most “productive and effective use” of its resources given the “significant investment.”
AZ remains engaged in advocating for drug access, accelerating innovation and more, according to the company's statement. The company looks forward to “redirecting our investment and continuing our US advocacy efforts in support of these areas at the state and federal levels," the spokesperson added.
AbbVie cited similar reasons for its exit in December. At the time, a spokesperson said that the departure was the result of an assessment of its trade group memberships.
For its part, Teva in February explained that it annually reviews the “effectiveness and value” of engagements to ensure its “investments are properly seated.”
PhRMA spokesperson Brian Newell told Fierce Pharma in an emailed statement that the organization “represents a strong and diverse group of leading biopharmaceutical research companies, and our priority continues to be pushing reforms that protect innovation and make health care more accessible and affordable for all Americans.”
Last summer, PhRMA’s lobbying efforts couldn’t stop the passage of the Inflation Reduction Act, the Biden administration’s drug-pricing law that gives Medicare the power to negotiate certain drug prices, much to the disappointment of many companies.
More recently, the trade group has been coming after pharmacy benefit managers (PBMs) and launched an attack ad earlier this month accusing them of controlling the medicines patients can receive based on rebates.