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LONDON (Reuters) – AstraZeneca (NASDAQ:AZN) has decided to leave the main U.S. drug lobby group, the Pharmaceutical Research and Manufacturers of America (PhRMA), and pursue other ways of engaging in advocacy at the state and federal level, the company said.
AstraZeneca decided not to continue its membership after a recent assessment of whether it it was “the most productive and effective use of (company) resources”, a spokesperson for the British drugmaker said in an emailed statement.
The news, first reported by Politico, marks the trade body’s third major departure in six months. AstraZeneca’s exit follows those of AbbVie (NYSE:ABBV), maker of blockbuster arthritis drug Humira, and Teva, a leading manufacturer of generic drugs.
AstraZeneca will redirect the funds previously used on its PhRMA membership to continue U.S. advocacy efforts with state and federal policymakers, the statement read.
PhRMA did not respond immediately to an emailed request for comment outside business hours.
The U.S. is the largest national market for all big pharma companies. Drugmakers suffered a rare defeat last year in failing to stop the Inflation Reduction Act, which allows the government to negotiate prices on certain drugs.
