PhRMA's revenue hit record $459M in 2018

Pharmaceutical Research and Manufacturers of America, the industry's top lobbying group, brought in a record $459 million in revenue in 2018, according to tax returns obtained by OpenSecrets.org.

PhRMA represents the most powerful drug companies in the country. According to its tax returns, it brings in almost as much in revenue on its own as the other two top healthcare lobbying groups, the American Hospital Association and the American Medical Association combined.

PhRMA's tax returns also show it gave million in grants to conservative groups that pushed policies favored by the pharmaceutical industry to the Trump administration and Congress.

The industry is facing pressure as Congress proposes bills aimed at lowering drug prices.

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