MedcoHealth spent $960K on lobbying in 3Q
Pharmacy benefits manager MedcoHealth Solutions Inc. spent $960,000 in the third quarter as it lobbied the federal government on subjects including health care reform and a variety of topics related to its business.
Medco said its lobbying interests included laws on generic versions of biotech drugs, treatment of chronic illnesses, comparative drug effectiveness, privacy and security rules, and economic stimulus funding. It also discussed the Medicare Part D prescription drug benefit, disclosure of pharmacy benefits management information, changes to drug benefits under the Federal Employees Health Benefits Plan, mail order pharmacies, and postal issues and mail delivery.
Medco handles prescription drug benefits for health plan sponsors and members. It makes money by reducing costs for its clients, largely by encouraging them to switch to low-cost generic versions of drugs. It gets a significant portion of its business from people with chronic illnesses, whose prescriptions are often delivered through the mail.
The Franklin Lakes, N.J., company lobbied Congress, White House, Department of Health and Human Services, Centers for Medicare & Medicaid Services, Food and Drug Administration, Federal Trade Commission, Office of Personnel Management, Postal Regulatory Commission. It disclosed its lobbying in a form filed Oct. 20 with the House clerk's office.
Medco spent $910,000 on lobbying during the third quarter of 2009, similar to this year. Its spending grew more than 50 percent from the second quarter of 2010.