Big Pharma Dumps Big Money Into Fight Against Prescription Drug Measure

Pharmaceutical companies continue to pour cash into their campaign to defeat a California ballot measure that would limit prescription drug prices, a new campaign finance analysis shows.

An analysis by MapLight, a nonpartisan organization that tracks money in politics, says the pharmaceutical industry has poured $49 million into the effort to defeat a ballot measure that would limit how much the state can pay for prescription drugs it purchases for a range of people, from those in prisons to Medi-Cal enrollees.

MapLight says that the drug measure’s sole financial backer, the AIDS Healthcare Foundation, has put about $4.4 million into the campaign so far.

The companies opposing the initiative, the California Drug Price Relief Act, have banded together in a campaign committee called Californians Against the Misleading Rx Measure.

MapLight notes that 27 of the 30 companies in the committee are based out of state, a fact borne out by California secretary of state records. The table below compiles the secretary of state’s campaign finance data for the 30 companies that had donated to the “Misleading Rx” campaign as of Feb. 29.

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