Worldwide sales of Humira, AbbVie's heavily advertised prescription drug that treats rheumatoid arthritis and other ailments, hit $18.4 billion in 2017 — an increase of more than 14%. Humira represented about two-thirds of AbbVie's total revenue.
The big picture: Humira, which costs $38,000 after rebates, is the top-selling drug on the planet. If Humira were a standalone company, it would be larger than many Fortune 500 conglomerates, such as General Mills, Halliburton or Xerox.
Senators from both parties are taking another look at efforts to stabilize the Affordable Care Act's individual market. Democrats are reassessing the initial bipartisan proposal, while Republicans seem increasingly open to new federal spending they once opposed.
Why it matters: Experts say a fresh review is a good thing, if members want their legislation to actually bring down premiums. The health care landscape has changed a lot since the stabilization bill was introduced last year , and it's just common sense to take that into account.
Groups representing drug companies heavily increased their federal lobbying in President Trump's first year, according to a review of lobbying records. No health care lobbying group splurged more than the Pharmaceutical Research and Manufacturers of America, which spent $25.4 million in 2017 — a 30% jump from 2016.