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Drug companies donate $10 million to oppose California initiative
Sacramento Bee

It hasn’t qualified for the ballot. And the measure’s implications are so complicated that even the experts at the Legislative Analyst’s Office had a hard time gauging its fiscal effects.

But the proposed “California Drug Price Relief Act” already has the attention of the drug industry, with major companies in recent days donating more than $10 million to their trade group’s California ballot initiative committee. Pharmaceutical Research and Manufacturers of America reported the donations Friday.