Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) sharply increased its lobbying spending in the US to $950,000 in the first quarter of 2009, according to reports filed with the US authorities. Lobbying spending was up 86% compared with the fourth quarter of 2008 and up 48% compared with the first quarter. The company spent $2.2 million on lobbying in 2008 as a whole.
One of Teva's key lobbying efforts is to promote biogenerics (or biosimilar) legislation. While currently US law covers procedures for the development and distribution of regular, i.e. chemical, generic drugs, there is no corresponding legislation for generics based on biopharmaceuticals. A number of bills have been submitted in the House and Senate on this matter.
Teva and other generic drug companies are seeking to promote key items of these bills, including registration of biogeneric drugs, patent periods, and marketing exclusivity periods, in ways that will favor them. Innovative drug companies are trying to promote their own interests, which counter those of the generic companies. It seems that as this battle draws towards its climax, Teva is boosting its lobbying efforts and spending.
Published by Globes [online], Israel business news - www.globes-online.com - on April 21, 2009
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