PhRMA revises eligibility criteria, cutting membership
In an update to its eligibility criteria, PhRMA will now require companies to meet benchmarks in R&D spending to be members. Companies must spend at least 10% of global sales on R&D and spend at least $200 million annually, based on three-year averages.
Seven companies who were full members are no longer in the organization, according to spokesperson Holly Campbell. Six are members of BIO: AMAG Pharmaceuticals Inc. (NASDAQ:AMAG), Horizon Pharma plc (NASDAQ:HZNP), Jazz Pharmaceuticals plc (NASDAQ:JAZZ), Mallinckrodt plc (NYSE:MNK), Orexigen Therapeutics Inc. (NASDAQ:OREX) and The Medicines Co. (NASDAQ:MDCO). The seventh, Leadiant Biosciences Inc. (Gaithersburg, Md.), is not a BIO member. All may opt to reapply, PhRMA said...