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Pharma Group, Under Pressure, Punches Back on Prices

  • Industry responds to candidates’ plans, congressional scrutiny
  • Strategies include showing the high cost of drug failures
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A top pharmaceutical lobbying group will begin a counteroffensive against scrutiny of industry pricing practices, responding to criticism from both major U.S. political parties in a contentious presidential election season.

“Our industry has become an easy scapegoat for the real and growing problem of patient access to affordable new medications,” Jim Greenwood, chief executive officer of the Biotechnology Innovation Organization, will say Wednesday at the group’s convention in San Francisco, according to a copy of remarks obtained by Bloomberg News. “My friends, we are fighting back.”