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Analysis-U.S. move to negotiate drug prices a rare defeat for Big Pharma

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By Ahmed Aboulenein WASHINGTON (Reuters) – Big Pharma spent more than any other industry to lobby Congress and federal agencies this year, a Reuters analysis shows, but still suffered a major defeat after failing to stop a bill that allows the government to negotiate prices on select drugs. Despite the pharmaceutical industry’s spending at least $142 million on lobbying efforts, the $430 billion Inflation Reduction Act to change climate, health and tax policies will become law. It cleared its largest hurdle last week with passage in the Senate, without any Republicans joining Democrats in voti…

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