PhRMA drums out 22 members who didn’t make the cut as major league R&D players
The shakeout at PhRMA is over.
After being swept up into the controversy that surrounded a couple of its top members with a notoriously itchy trigger finger for sky high prices on some unimpressive therapies, the industry lobbying group has now completed its review of their membership rules, coming up with some criteria on who can qualify for the club.
In a statement out today, PhRMA notes that members will have to devote at least 10% of their revenue to R&D with a minimum research budget of $200 million a year — and they have to have maintained that track record over the last three years.
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