Teva's lobbying expenses of $1.6 million in the first half of 2018 are down 54% from the corresponding period of 2017.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) has reported to the US authorities that it spent $1.1 million on lobbying in the second quarter of 2018. This is higher than the second quarter of 2017, when the Israeli company spent $840,000, and higher than the first quarter of 2018 when Teva spent $480,000 on lobbying. However, Teva's lobbying expenses of $1.6 million in the first half of 2018 are down 54% from the corresponding period of 2017.
Among other things, Teva sought to promote the US government Medicaid insurance program and legislation regarding medication and prices. Teva lobbyists worked in the Senate, House of Representatives and Department of Health.
As part of the streamlining program introduced last December by Teva CEO Kare Schultz, Teva announced in February that it was closing its lobbying office in Washington D.C. Schultz told analysts at the time that Teva is now part of the US Generic Pharmaceutical Association and therefore does not require its own lobbying office.
Published by Globes [online], Israel business news - www.globes-online.com - on July 22, 2018
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Kare Schultz Photo: PR