Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) sharply increased its spending on lobbying in the US in the first quarter of 2011. For the first time, the company spent over $1 million on lobbying in a quarter: $1.44 million, 76% more than in the corresponding quarter of 2010, according to the lobbying report filed by Teva Pharmaceuticals USA Inc.
Teva more than doubled its spending on lobbying in US compared with the preceding quarter. It spent $2.9 million on lobbying in US in 2010 as a whole.
Teva lobbies Congress, the US administration, the Office of Patents and Trademarks, US Trade Representative, and other federal agencies. In 2009, it quit the Generic Pharmaceutical Association (GPhA) to lobby independently in the US.
Teva's lobbying goes beyond its generic drugs business to include women's health issues as part of the US healthcare reform, patents, and issues relating to US-Israeli trade agreements.
Teva spends more on lobbying in the first quarter than its US generic peers: Mylan Inc. (NYSE: MYL) spent $742,000, and Watson Pharmaceuticals Inc. (NYSE: WPI) spent $650,000. However, Teva's spending is much less than the spending by big pharma companies: Eli Lilly & Co. (NYSE: LLY) spent almost $2.5 million; Merck & Co. Inc. (NYSE: MRK) spent over $3.5 million, and Pfizer Inc. (NYSE: PFE; LSE: PFZ) spent $3.8 million.
Published by Globes [online], Israel business news - www.globes-online.com - on April 24, 2011
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