| FORM 990, PART I, LINE 1 DESCRIPTION OF ORGANIZATION'S MISSION: |
PHRMA'S MISSION IS TO CONDUCT EFFECTIVE ADVOCACY FOR PUBLIC POLICIES THAT ENCOURAGE THE DISCOVERY OF IMPORTANT, NEW MEDICINES FOR PATIENTS BY BIOPHARMACEUTICAL RESEARCH COMPANIES. |
| FORM 990, PART VI, SECTION A, LINE 4: |
PhRMA amended its By-Laws in 2021. The amendments address provisions relating to membership, dues and committees and make other technical changes. |
| FORM 990, PART VI, SECTION A, LINE 6: |
A CORPORATION, PARTNERSHIP, LIMITED LIABILITY COMPANY, OR SUBSIDIARY OR DIVISION OF A COMPANY WITH OPERATIONS IN THE UNITED STATES THAT IS SIGNFICANTLY ENGAGED IN THE RESEARCH AND THE MANUFACTURE AND/OR MARKETING OF INNOVATIVE FINISHED DOSAGE PRESCRIPTION PHARMACEUTICALS OR BIOLOGICAL PRODUCTS UNDER ITS OWN BRAND NAMES AND THAT MARKETS AT LEAST ONE SUCH PRODUCT MAY QUALIFY FOR PHRMA MEMBERSHIP. PHRMA HAS ONE CLASS OF VOTING MEMBERS. MEMBERS ARE REPRESENTED ON THE BOARD OF DIRECTORS. PHRMA ALSO HAS A CLASS OF NON-VOTING MEMBERS. |
| FORM 990, PART VI, SECTION A, LINE 7A: |
EACH MEMBER OF PHRMA IS ENTITLED TO APPOINT ONE DIRECTOR. SUCH APPOINTMENT IS SUBJECT TO APPROVAL OF THE BOARD OF DIRECTORS FOLLOWING NOMINATION BY THE GOVERNANCE AND COMPENSATION COMMITTEE. |
| FORM 990, PART VI, SECTION A, LINE 7B: |
CERTAIN MATTERS, SUCH AS AMENDING THE BY-LAWS OF THE ASSOCIATION, REQUIRE MEMBER APPROVAL. |
| FORM 990, PART VI, SECTION B, LINE 11B: |
PHRMA'S FORM 990 IS PREPARED BY ITS ACCOUNTING FIRM, AND IS REVIEWED INTERNALLY BY KEY FINANCIAL MANAGEMENT, THE CFO AND INTERNAL LEGAL COUNSEL. A COPY OF THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C: |
PHRMA'S CONFLICT OF INTEREST POLICY (POLICY) REQUIRES ALL EMPLOYEES TO PROMPTLY DISCLOSE ANY FACT OR CIRCUMSTANCE THAT MAY INVOLVE A CONFLICT OF INTEREST TO THE EMPLOYEE'S SUPERVISOR OR THE LEGAL DEPARTMENT BEFORE STARTING AN ACTIVITY OR ACQUIRING AN INTEREST WHICH MAY BE QUESTIONABLE. THE POLICY IDENTIFIES SPECIFIC SITUATIONS WHICH MUST BE DISCLOSED BECAUSE A CONFLICT OF INTEREST COULD EXIST. EMPLOYEES ARE DIRECTED TO CONTACT PERSONNEL IN THE LEGAL DEPARTMENT OR FINANCE AND OPERATIONS DEPARTMENT WITH ANY QUESTIONS ABOUT A POSSIBLE CONFLICT OF INTEREST. OFFICERS AND KEY EMPLOYEES MUST COMPLETE AN ANNUAL CERTIFICATION THAT REQUIRES THEM TO CERTIFY THEIR DUTY TO COMPLY WITH THE POLICY AND TO DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. MEMBERS OF PHRMA'S BOARD OF DIRECTORS ARE SUBJECT TO THE CONFLICT OF INTEREST POLICY WITH RESPECT TO MEMBERS OF THE BOARD OF DIRECTORS (DIRECTORS POLICY). THE DIRECTORS POLICY REQUIRES MEMBERS OF THE BOARD OF DIRECTORS TO DISCLOSE THE EXISTENCE OR POSSIBLE EXISTENCE OF ANY CONFLICT OF INTEREST TO THE BOARD OF DIRECTORS AND MEMBERS OF COMMITTEES OF THE BOARD OF DIRECTORS CONSIDERING THE PROPOSED MATTER GIVING RISE, OR RELATING, TO SUCH EXISTING OR POSSIBLE CONFLICT OF INTEREST. THE REMAINING BOARD OF DIRECTORS OR COMMITTEE MEMBERS DETERMINE IF A CONFLICT OF INTEREST EXISTS WITH RESPECT TO THE DIRECTOR WHO MADE THE DISCLOSURE. IF A CONFLICT OF INTEREST IS FOUND TO EXIST, THE INTERESTED DIRECTOR IS BARRED FROM PARTICIPATING IN A MEETING OR ANY RELATED DELIBERATIONS DISCUSSING OR WITH RESPECT TO THE MATTER GIVING RISE TO THE CONFLICT OF INTEREST, RECEIVING ANY COMMUNICATIONS REGARDING SUCH MATTER, AND PARTICIPATING IN OR BEING PRESENT FOR A VOTE ON SUCH MATTER. EACH BOARD MEMBER MUST SIGN AN ANNUAL ACKNOWLEDGEMENT WITH RESPECT TO COMPLIANCE WITH THE DIRECTORS POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15: |
EACH EXECUTIVE'S PERFORMANCE IS ASSESSED ANNUALLY AGAINST SPECIFIC PERFORMANCE OBJECTIVES AND COMPETENCIES. SENIOR LEADERSHIP, INCLUDING THE PRESIDENT/CEO, REVIEW THESE EVALUATIONS AND MAKE RECOMMENDATIONS FOR ANY COMPENSATION ADJUSTMENTS, INCLUDING MERIT INCREASES AND BONUS APPROPRIATE TO PERFORMANCE AND WITHIN AVAILABLE BUDGET. THESE RECOMMENDATIONS ARE REVIEWED WITH AND APPROVED BY THE GOVERNANCE AND COMPENSATION COMMITTEE OF THE PHRMA BOARD. HUMAN RESOURCES REVIEWS ALL SALARY ADJUSTMENTS TO ASSURE SALARIES REMAIN COMPETITIVE COMPARED TO MARKET BENCHMARKS. THE GOVERNANCE & COMPENSATION COMMITTEE REVIEWS AND APPROVES MERIT INCREASE, ANNUAL BONUS AND LONG-TERM INCENTIVE AWARDS. PRESIDENT/CEO COMPENSATION IS ESTABLISHED BY PHRMA'S BOARD OF DIRECTORS, WITH RECOMMENDATION BY THE GOVERNANCE AND COMPENSATION COMMITTEE. THE GOVERNANCE AND COMPENSATION COMMITTEE CONSIDERS AND APPROVES THE CEO'S ANNUAL COMPENSATION ADJUSTMENT, ANNUAL BONUS, LONG-TERM INCENTIVE AWARD AND DEFERRED COMPENSATION AWARD, BASED ON PERF. TO ANNUAL OBJECTIVES. PHRMA ENGAGES AN INDEPENDENT CONSULTANT TO ADVISE ON EXECUTIVE COMPENSATION, INCLUDING THAT OF THE PRESIDENT/CEO. |
| FORM 990, PART VI, SECTION C, LINE 19: |
PHRMA DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. |
| FORM 990, PART XI, LINE 9: |
CHANGES IN PENSION AND POST RETIREMENT -813,728 |
| FORM 990, PART XII, LINE 2C: |
THE AUDIT OVERSIGHT PROCESS REMAINS UNCHANGED FROM THE PRIOR YEAR. |
| FORM 990 PART IX LINE 11G |
DESCRIPTION:CONSULTANTS TOTAL FEES:XXX-XX-XXXX |
| FORM 990 PART IX LINE 11G |
DESCRIPTION:RECRUITING TOTAL FEES:1043716 |
Attach to Form 990 or 990-EZ.