The amount of money spent by Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) on lobbying in the US has stabilized in recent quarters, after rising through 2009, quarterly reports filed by Teva Pharmaceuticals USA Inc. with the Office of the Clerk of the House of Representative indicate.
Teva spent $840,000 on lobbying in the third quarter of 2010, about the same as in the second quarter, and 9% more than in the corresponding quarter of 2009. However, spending on lobbying in January-September was down 2% compared with the corresponding period of last year.
Teva, run by president and CEO Shlomo Yanai, is the world's largest generic drug maker. The company hires lobbyists who work the offices of Congress, the US administration, and federal agencies, such as the US Patent and Trademark Office the US Trade Representative.
Several months ago, Teva quit the Generic Pharmaceutical Association (GPhA), saying that it would lobby independently in the US. Teva spent more on lobbying in the third quarter than the GPhA, which spent $373,999. The GPhA spent $1.5 million in January-September, down from $1.6 million in the corresponding period of last year.
Published by Globes [online], Israel business news - www.globes-online.com - on October 21, 2010
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