This is, admittedly, a complete surprise. To be fair, Pfizer will likely always be about 30% bigger than Merck, on NYSE market cap and asset base — and thus, lobby spending.
But this huge jump in Q1 2026, for Merck seems… out of character, over the past seven or so annual cycles. [In the next in this series, we will add in the Amgen spend, which has fallen by almost as much as Merck’s has… risen. Odd.]
Why now? Why so much — in each direction?! We are abidingly curious — especially compared to the peer group. In any event, see my chart at right, and the below, filed on April 20 [and look for a four way version, with Amgen in, tonight or tomorrow]:
…[Senate] S. 1339, Pharmacy Benefit Manager Reform Act; S. 2076, Pioneering Antimicrobial Subscriptions To End Upsurging Resistance (PASTEUR) Act of 2021….
Issues relating to: 340B program integrity; 340B of the Public Health Services Act; 340B issues; 340B drug pricing program; Drug pricing; Drug pricing and reimbursement issues; Cost and value of medicines; Vaccine issues; Package inserts and e-labeling; Package inserts, labeling issues, and e-labeling authorization legislation; Pharmaceutical supply channel issues; Drug shortages issues; Inflation Reduction Act (P.L. 117-169), issues relating to drug pricing provisions; One Big Beautiful Bill Act (P.L. 119-21), issues related to health care; FY-2027 Budget and Appropriations Legislation; Budget reconciliation drug pricing provisions; Commerce Justice, Science, and related agencies appropriations legislation for 2026; Interior, Environment, and related agencies appropriations legislation for 2026; Intellectual property protection and trade issues; Animal Health Policy Issues; Animal Drug User Fee Act (ADUFA) & Funding for Electronic Animal Traceability; General pharmaceutical issues; Vaccine Injury Compensation Program (VICP); Vaccine Policy; Pharmacy Benefit Manager (PBM) policy issues; Pharmacy Benefit Manager reforms; Food and Drug Administration issues; Public Health Issues; Most Favored Nation (MFN) drug pricing; Section 232 National Security Investigation of Imports of Pharmaceuticals and Pharmaceutical Ingredients; International competition in biopharmaceuticals….
[US House] Issues relating to: One Big Beautiful Bill Act (P.L. 119-21), issues related to health care; Medicare; Medicare Part B and D drug pricing issues; 340B program integrity; 340B of the Public Health Services Act; 340B drug pricing program; Drug pricing; Cost and value of medicines; Drug pricing and reimbursement issues; FY-2027 Budget and Appropriations Legislation; Medicaid drug rebate program (MDRP)….
[Taxes] Issues relating to: Tax reform and tax policy, generally; Inflation Reduction Act (P.L. 117-169), provisions relating to budget reconciliation and taxes; Tax Cuts and Jobs Act (P.L. 115-97), provisions relating to tax reform….
[Animal Health] Issues relating to: Animal Health Policy Issues; Animal Drug User Fee Act (ADUFA) & Funding for Electronic Animal Traceability; Agriculture, Rural Development , Food and Drug Administration, and Related Agencies Appropriations Bill, 2026; Commerce, Justice, Science, and Related Agencies Appropriations Bill, 2026; Interior, Environment, and Related Agencies Appropriations Bill 2026….
That is — overall, a rather stunning reversal in spend levels. Mr. Davis must believe that the arms of the federal government may be bent / bought, with enough… lucre. Wow — under Trump, that might be true. Onward.
नमस्ते
