Danish drugmaker Novo Nordisk, the world’s top producer of insulin, spent $375,000 lobbying the U.S. government in the second quarter of 2010 on several diabetes-related issues, among other topics, according to a Bloomberg report
The amount marks a 13 percent reduction from $430,000 during the same period last year and a reduction from $540,000 during the first quarter of 2010.
For the full story go to Bloomberg Businessweek.
Don’t get too excited about the reduction; it was bound to happen given the HUGE prizes the industry walked away with last year (let’s see, healthcare reform which will increase the industry’s sales in the coming years, 12 vs. 7 years protection on biotechnology meds — except insulin which the law considers a small-molecule drug, no reimportation of Canadian drugs, no ability for Medicare to negotiate prices on drugs … the list goes on and on!). In 2007, insulin manufacturers (collectively between Lilly, Novo Nordisk and Sanofi Aventis) spent a whopping $5.32 million on lobbyists in Washington (according to data… Read more »