WASHINGTON - Pharmaceutical company Bristol-Myers Squibb Co. spent $840,000 lobbying on drug pricing, safety and patent issues in the third quarter, according to a recent disclosure form.
| BMY | 19.77 |
The New York-based company also lobbied Congress on a bill that would ban the use of a plastic-hardening chemical called bisphenol-A in children's food packaging. The chemical has been used to seal food containers, including baby formula.
Bristol-Myers, the maker of Enfamil infant formula, lobbied to inform Congress that the materials used to line infant formula cans are safe. A 2007 report by government toxicologists said the chemical contributed to irregular development and noncancerous growths in animal studies.
The company also lobbied on a bill aimed at updating the U.S. patent system. High-tech companies supported the bill that passed the House last year, saying it would cut down on frivolous patent-infringement lawsuits. But the pharmaceutical industry argued it will weaken patent protections on drugs by reducing infringement penalties. The bill stalled in the Senate.
Bristol-Myers also lobbied in support of legislation that would allow generic drug companies to sell cheaper copies of biotech drugs. Unlike traditional chemical-based drugs, biotech drugs have not faced generic competition in the U.S. because the Food and Drug Administration lacks authority to approve cheaper copies of them. An effort to give the agency that power stalled last year, but things could change under the administration of President-elect Barack Obama.
The company lobbied for increased awareness and funding to help pay for medicines in several areas where it sells products, including anti-clotting drugs to prevent strokes--it sells Plavix, the second best-selling drug in the world, as well as Coumadin--and drugs for AIDS (Atripla and Sustiva) and mental health disorders (Abilify for depression and schizophrenia).
Bristol-Myers also lobbied to retain the current rebate levels companies get for drugs sold through the Medicare program and to extend a tax credit on research, according to the form filed Oct. 16 with the House clerk's office.

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