New Rules at PhRMA to Change Industry's Image

May 11, 2017

The drug industry's main lobbying group is kicking out members that don't spend enough on developing new products.

According to new rules from the Pharmaceutical Research and Manufacturers of America that went into effect this week, in order to remain members, drug firms will have to spend at least 10 percent of their sales on global research and development over three years. They will also need to spend at least $200 million per year on R&D.

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