AstraZeneca Returns to PhRMA After Two-Year Break
(Reuters) -AstraZeneca has rejoined the main U.S. drug lobby group, roughly two years after leaving it, the Pharmaceutical Research and Manufacturers of America (PhRMA) said on Tuesday.
This decision follows the British drugmaker's announcement last year of a $3.5 billion investment in the United States aimed at expanding its research and development (R&D) and manufacturing capabilities by the end of 2026.
The company returns to the trade body amid preparations by pharmaceutical companies to address potential tariffs and drug import duties under the administration of President Donald Trump.
"We are also expanding our presence in the United States with significant investments in research, development and manufacturing," said Pascal Soriot, AstraZeneca’s Chief Executive Officer.
Soriot added AstraZeneca is "committed to working with PhRMA and policymakers to ensure the U.S. remains the global leader in biomedical innovation and that medicines are affordable for everyone who needs them."
In May 2023, the London-listed company had decided to leave the group and explore alternative advocacy approaches at both state and federal levels.
(Reporting by Sriparna Roy in Bengaluru; Editing by Tasim Zahid)
