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Pharmaceutical Research And Manufacturers Of America

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President Donald Trump listens during a meeting with pharmaceutical industry leaders in the Roosevelt Room of the White House in Washington, Tuesday, Jan. 31, 2017. From left are, PhRMA president Stephen Ubl, Merck CEO Kenneth Frazier, Trump, Celgene CEO Robert Hugin, and Amgen CEO Robert Bradway (AP Photo/Evan Vucci)

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PhRMA said its member companies spent a record $102.3 billion on research and development last year.

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