Product Sales for 2021 Reached 36.5 Billion USD
AstraZeneca Pharmaceuticals LLP (AstraZeneca) is by now a household name and and a captain of industry within the pharmaceutical realm. In 2021 the company spent 5,490,000 USD in lobbying costs and over the past several years the average annual revenue is over twenty million USD. AstraZeneca is presently lobbying the Senate and House of Representatives, as well as the Food and Drug Administration (FDA) and the Center for Medicare and Medicaid Services (CMS). Seven lobbyists are mentioned in the report including Elizabeth Brooks, Aaron Hunter, Helen Dwight, and Sarah Arbes. The entire listing is available in the lobbying report.
Evusheld, developed by AstraZeneca, is the first FDA authorized COVID antibody to protect the immunocompromised.
There are several bills AstrZeneca is presently lobbying for so only the most recent will be covered below. The first bill is S. 4348, the Food and Drug Administration Safety and Landmark Advancements Act of 2022 (FDASLA). Primarily, this bill modifies the authority of the FDA to collect certain fees and expands the FDA’s authority to regulation certain products including cosmetics. FDASLA authorizes the FDA to require certain drugs be dispensed with a safe disposal system and reauthorizes FDA ability to collect certain fees related to drugs, medical devices, biosimilar biological products. Cosmetics manufacturers would be required to register their facilities and all products should the bill pass and would require the FDA to temporarily relax some premarket requirements for new infant formulas. Secondly, AstraZeneca is lobbying on behalf of H.R. 7667 otherwise known as the Food and Drug Amendments of 2022. This bill would authorize the FDA to collect user fee programs for certain drugs, establish requirements for increased diversity in clinical trials, and modify the requirements of the current drugs and devices supply chain. H.R. 7667 also requires the FDA to inform generic drug applicants whether the drug they developed in qualitatively or quantitatively the same as a listed brand name drug that is already available. Additional categorization and postapproval studies are covered.
The Build Back Better Act
The Build Back Better Act, now formally the Inflation Reduction Act of 2022, was introduced to the House of Representatives in Setpember of last year. This August it became law and it is expansive. With this platform being for alternative data and data summary use, only a few key highlights will be mentioned. For a shorter yet comprehensive breakdown, the White House released a framework summary for public viewing. An alternative minimum adjusted income tax for domestic corporations that gross over one billion USD will go into effect after December 31st of this year. Notably the price of prescription drugs will be lowered, strengthens enforcement for the existing tax laws, and makes a transformative investment in care for children and persons with disabilities requiring care.