Drug prices

PhRMA's cash load stayed steady in 2018

PhRMA CEO Stephen Ubl speaks a table with President Trump.
PhRMA CEO Stephen Ubl speaks to President Trump. Photo: Ron Sachs/Getty Images

The drug industry lobbying group PhRMA registered $460 million of revenue in 2018, a shade more than 2017, according to its latest tax returns obtained by the Center for Responsive Politics.

The bottom line: PhRMA's influence continues to touch almost every corner of state and federal politics, especially conservative groups, and is a big reason why the country's high drug prices have not changed.

2020 Democrats' new drug pricing bill

Sens. Bernie Sanders and Cory Booker. Photo: Tom Williams/CQ Roll Call

Sens. Cory Booker, Bernie Sanders and Kamala Harris — who are all running for president in 2020 — are announcing legislation Friday that would create an independent agency to determine list prices of prescription drugs.

Why it matters: This is further mainstreaming of Democrats' leftward shift on drug prices.