Where money moves through U.S. healthcare — federal spending (HHS, Medicare, Medicaid), drug spending, lobbying, and congressional trades in health stocks. Coverage-honest: figures we don't have yet show "—"; Medicaid is state-administered and partial. New to the topic? Start with the healthcare primer.
Industry payments to physicians & teaching hospitals — CMS Open Payments, program year 2025
Payments from drug and device makers to physicians and teaching hospitals — consulting fees, speaking, research, meals, and travel — disclosed under the federal Sunshine Act via CMS Open Payments. These are general (non-research) and research payment totals; a payment is disclosure, not wrongdoing.
Data from CMS Open Payments — summary rollups only (the record-level file is ~16M rows and is never ingested).
Total disclosed (PY2025)$3,923,363,992
Top payer$536,410,036BIONTECH SE
Coverage: figures are CMS's own pre-grouped summary tables (the ~16M-row record-level file is never ingested). "Total disclosed" sums every U.S. state/territory row, so it reflects the full program-year total; the manufacturer and recipient tables list the top entities only. Top recipients mix physicians, non-physician practitioners, and teaching hospitals — a per-recipient state isn't carried in the recipient summary. A large recipient total often reflects research funding routed through an institution, not personal enrichment.
Top manufacturers & GPOs by total paid
The drug and device makers (and group purchasing organizations) reporting the most in payments to physicians and teaching hospitals in 2025.
#
Manufacturer / GPO
Total paid
Records
1
BIONTECH SE
$536,410,036
147
2
ABBVIE INC.
$201,690,737
1,682,658
3
STRYKER CORPORATION
$133,465,720
212,944
4
MEDTRONIC, INC.
$111,704,211
346,536
5
ARTHREX, INC.
$106,092,053
46,235
6
BOSTON SCIENTIFIC CORPORATION
$101,694,139
298,380
7
ZIMMER BIOMET HOLDINGS, INC.
$88,547,398
38,508
8
INTUITIVE SURGICAL, INC.
$70,039,237
102,573
9
ASTRAZENECA PHARMACEUTICALS LP
$69,553,694
555,048
10
ADVANCED ACCELERATOR APPLICATIONS
$64,340,900
331
11
NOVO NORDISK AS
$61,667,715
825
12
DEPUY SYNTHES PRODUCTS, INC.
$61,515,817
1,893
13
GENZYME CORPORATION
$61,224,697
204,032
14
GENENTECH, INC.
$51,407,479
3,254
15
SMITH+NEPHEW, INC.
$51,025,923
72,943
16
LILLY USA, LLC
$48,207,881
425,910
17
TAKEDA PHARMACEUTICALS U.S.A., INC.
$46,009,914
171,317
18
AMGEN INC.
$45,848,289
504,233
19
PFIZER INC.
$44,497,239
549,896
20
JANSSEN BIOTECH, INC.
$42,833,201
384,848
21
ABBOTT LABORATORIES
$39,967,014
265,287
22
E.R. SQUIBB & SONS, L.L.C.
$39,312,867
249,310
23
NOVO NORDISK INC
$36,753,823
512,725
24
GILEAD SCIENCES, INC.
$36,334,798
124,634
25
GLOBUS MEDICAL, INC.
$36,057,394
55,935
26
REGENERON HEALTHCARE SOLUTIONS, INC.
$29,073,374
186,616
27
ALPHATEC SPINE, INC
$28,850,777
6,134
28
HISTOSONICS, INC.
$25,641,082
1,434
29
MERCK SHARP & DOHME LLC
$24,391,561
197,625
30
ENCORE MEDICAL, LP
$24,112,531
3,238
31
ALIGN TECHNOLOGY, INC.
$23,775,241
69,799
32
UCB, INC.
$23,576,570
187,473
33
GLAXOSMITHKLINE, LLC.
$22,993,880
346,594
34
NOVARTIS PHARMACEUTICALS CORPORATION
$22,055,102
383,742
35
GALDERMA LABORATORIES, L.P.
$21,580,645
116,421
36
EDWARDS LIFESCIENCES CORPORATION
$21,392,415
72,174
37
AXSOME THERAPEUTICS, INC.
$20,713,266
156,827
38
LIVANOVA USA, INC.
$20,416,551
8,734
39
NEUROCRINE BIOSCIENCES, INC.
$19,793,556
134,030
40
ALCON VISION LLC
$19,110,503
112,702
41
ANGIODYNAMICS, INC.
$18,413,670
13,270
42
MEDICAL DEVICE BUSINESS SERVICES, INC.
$18,043,854
27,230
43
CSL PLASMA INC.
$17,791,826
17,515
44
ITI, INC. (D/B/A INTRA-CELLULAR THERAPIES, INC.)
$16,858,557
212,166
45
BOEHRINGER INGELHEIM PHARMACEUTICALS, INC.
$16,600,093
171,436
46
BAUSCH & LOMB AMERICAS INC.
$15,730,087
86,027
47
ALEXION PHARMACEUTICALS, INC.
$15,677,235
38,163
48
MADRIGAL PHARMACEUTICALS
$15,600,807
76,204
49
TEVA PHARMACEUTICALS USA, INC.
$14,918,556
144,567
50
CELGENE CORPORATION
$14,761,125
32,330
51
OTSUKA AMERICA PHARMACEUTICAL, INC.
$14,031,586
217,360
52
INCYTE CORPORATION
$13,874,323
91,367
53
SIEMENS MEDICAL SOLUTIONS USA, INC.
$13,762,508
9,472
54
BAYER HEALTHCARE PHARMACEUTICALS INC.
$12,975,150
182,366
55
TREACE MEDICAL CONCEPTS, INC.
$12,021,682
18,396
56
ALKERMES, INC.
$11,751,392
108,110
57
REGENERON PHARMACEUTICALS, INC.
$10,522,589
5,622
58
CONVATEC INC.
$10,121,405
9,633
59
JAZZ PHARMACEUTICALS INC.
$9,889,758
42,165
60
VERTEX PHARMACEUTICALS INCORPORATED
$9,865,874
47,914
61
ORTHOFIX MEDICAL, INC.
$9,694,796
18,589
62
BIOSENSE WEBSTER, INC.
$9,577,879
34,200
63
SI-BONE, INC.
$9,309,518
11,737
64
JANSSEN PHARMACEUTICALS, INC
$9,291,824
89,324
65
PENUMBRA, INC.
$8,799,743
25,412
66
ASTELLAS PHARMA US INC
$8,788,061
124,472
67
VANDA PHARMACEUTICALS INC.
$8,777,411
102,725
68
EMD SERONO, INC.
$8,472,268
29,354
69
MEDACTA USA, INC.
$8,409,513
5,519
70
STRAUMANN USA LLC
$8,355,254
36,609
71
SUN PHARMACEUTICAL INDUSTRIES INC.
$8,332,936
85,817
72
SANOFI-AVENTIS U.S. LLC
$8,256,974
39,658
73
GE HEALTHCARE
$8,102,038
8,105
74
ARCUTIS BIOTHERAPEUTICS, INC.
$7,975,301
57,288
75
ALNYLAM PHARMACEUTICALS INC.
$7,905,699
30,648
76
GENENTECH USA, INC.
$7,900,200
54,252
77
CHIESI USA, INC.
$7,720,689
10,606
78
VB SPINE LLC
$7,708,717
3,950
79
ORGANON LLC
$7,590,079
87,741
80
VIIV HEALTHCARE COMPANY
$7,579,499
61,014
81
SHOCKWAVE MEDICAL, INC
$7,575,742
23,535
82
MALLINCKRODT HOSPITAL PRODUCTS INC.
$7,529,525
42,494
83
ELI LILLY AND COMPANY
$7,450,400
5,831
84
ENVISTA HOLDINGS CORPORATION
$7,314,315
15,905
85
TELEFLEX LLC
$7,126,550
20,511
86
DAVOL INC.
$6,818,348
18,662
87
BIOGEN, INC.
$6,813,672
53,833
88
TG THERAPEUTICS, INC.
$6,697,097
17,434
89
DENTSPLY SIRONA INC
$6,432,354
25,876
90
TARSUS PHARMACEUTICALS, INC.
$6,388,264
48,675
91
ABIOMED
$6,376,581
69,572
92
HIGHRIDGE MEDICAL LLC
$6,375,030
1,704
93
EXACTECH, INC.
$6,352,826
2,493
94
IPSEN BIOPHARMACEUTICALS, INC
$6,205,974
29,708
95
W. L. GORE & ASSOCIATES, INC.
$6,103,115
24,773
96
DAIICHI SANKYO INC.
$6,013,454
50,442
97
INSULET CORPORATION
$5,869,278
25,976
98
AMERICAN RHEUMATOLOGY NETWORK, LLC
$5,825,000
6
99
ASTRAZENECA UK LIMITED
$5,758,732
2,145
100
JANSSEN RESEARCH & DEVELOPMENT, LLC
$5,647,229
1,920
101
GLAUKOS CORPORATION
$5,528,897
14,794
102
CORCEPT THERAPEUTICS
$5,527,732
56,766
103
BECTON, DICKINSON AND COMPANY
$5,444,220
17,265
104
JANSSEN SCIENTIFIC AFFAIRS, LLC
$5,426,457
10,081
105
EISAI INC.
$5,308,931
46,211
106
CSL BEHRING
$5,244,847
28,841
107
ILLUMINA, INC.
$5,193,533
174
108
SOLVENTUM CORPORATION
$5,169,445
29,149
109
LEO PHARMA INC.
$5,119,522
55,901
110
ATRICURE, INC.
$5,104,225
28,950
111
UCB SA
$5,077,011
684
112
PHATHOM PHARMACEUTICALS, INC.
$5,053,516
90,356
113
ARGENX US, INC.
$5,051,823
21,995
114
BARD PERIPHERAL VASCULAR, INC.
$5,014,683
8,753
115
PACIRA PHARMACEUTICALS INCORPORATED
$4,923,405
20,405
116
COOK INCORPORATED
$4,891,958
916
117
INSPIRE MEDICAL SYSTEMS, INC.
$4,891,025
61,079
118
REVANCE THERAPEUTICS, INC.
$4,825,905
23,702
119
KLS-MARTIN L.P.
$4,811,507
4,468
120
ACTELION PHARMACEUTICALS US, INC.
$4,800,726
27,077
121
UNITED THERAPEUTICS CORPORATION
$4,800,190
17,493
122
ETHICON US, LLC
$4,689,459
20,416
123
PHILIPS NORTH AMERICA LLC
$4,669,566
30,414
124
EXACT SCIENCES CORPORATION
$4,625,390
132,267
125
LINVATEC CORPORATION
$4,606,745
3,216
126
EXELIXIS INC.
$4,579,750
12,338
127
SUMITOMO PHARMA AMERICA, INC.
$4,575,243
96,520
128
LUNDBECK LLC
$4,564,787
110,239
129
OLYMPUS CORPORATION OF THE AMERICAS
$4,563,949
4,790
130
SYNDAX PHARMACEUTICALS, INC.
$4,530,046
5,560
131
MERIT MEDICAL SYSTEMS INC
$4,331,803
2,145
132
NATIONAL MARROW DONOR PROGRAM
$4,292,490
1,415
133
TERUMO MEDICAL CORPORATION
$4,150,685
7,655
134
BECKMAN COULTER, INC.
$4,055,009
244
135
APELLIS PHARMACEUTICALS, INC.
$4,042,100
10,965
136
OCTAPHARMA USA, INC.
$4,017,194
7,677
137
SOBI, INC
$3,951,753
15,566
138
MIMEDX GROUP, INC.
$3,932,390
16,253
139
MERZ NORTH AMERICA, INC.
$3,923,278
16,326
140
ORTHO DEVELOPMENT CORPORATION
$3,906,558
1,007
141
ZOLL SERVICES LLC (A/K/A ZOLL LIFECOR CORP)
$3,890,499
85,227
142
SALIX PHARMACEUTICALS, A DIVISION OF BAUSCH HEALTH US, LLC
$3,877,497
126,233
143
SUPERNUS PHARMACEUTICALS, INC.
$3,849,021
62,228
144
SANOFI US SERVICES INC.
$3,813,102
1,522
145
KERECIS LIMITED
$3,807,530
21,800
146
TENDYNE HOLDINGS, INC.
$3,669,175
8
147
JOHNSON & JOHNSON HEALTH CARE SYSTEMS INC.
$3,640,451
481
148
COLOPLAST CORP
$3,540,321
18,249
149
ZIMVIE INC.
$3,528,640
32,959
150
DEXCOM, INC.
$3,526,098
57,170
Payments by recipient state
Total industry payments landing with physicians and teaching hospitals in each state in 2025.
State
Total received
Records
PA
$713,306,030
689,644
CA
$423,777,655
1,450,114
NY
$260,029,755
1,089,903
TX
$241,193,869
1,518,471
FL
$231,575,569
1,436,414
MA
$185,206,025
230,757
IL
$126,470,448
535,247
OH
$125,992,975
631,547
MO
$125,550,488
331,289
MI
$109,588,941
497,356
NC
$100,779,409
551,170
VA
$92,313,232
397,902
TN
$91,988,307
513,325
GA
$87,468,314
609,383
MD
$80,335,412
315,851
AZ
$74,989,478
382,339
NJ
$70,975,455
551,520
CO
$70,594,930
213,572
WA
$69,977,113
156,778
MN
$53,095,644
68,987
WI
$48,716,407
104,678
IN
$44,715,437
370,774
CT
$43,466,704
218,668
SC
$42,859,900
326,520
KY
$37,432,439
325,665
KS
$36,072,084
150,846
AL
$35,937,192
345,482
LA
$35,287,265
345,182
UT
$32,552,596
133,947
DC
$23,051,935
48,023
OK
$22,723,447
213,935
OR
$22,341,354
78,779
NV
$21,024,847
159,306
IA
$17,013,904
92,780
MS
$16,138,184
189,602
AR
$12,969,309
156,470
NE
$9,980,358
105,771
ID
$9,657,191
66,598
WV
$9,091,885
95,999
RI
$9,011,288
49,626
NH
$8,434,755
36,250
SD
$8,077,462
33,392
NM
$8,000,726
53,401
PR
$7,647,795
57,563
HI
$6,415,956
53,986
DE
$4,759,757
51,848
ME
$3,918,952
22,017
MT
$3,413,486
19,817
VT
$1,930,851
2,630
ND
$1,919,152
19,999
WY
$1,782,278
11,554
AK
$1,729,592
17,569
GU
$29,911
351
AP
$29,604
353
AE
$14,144
303
VI
$5,037
84
MP
$1,135
7
AA
$484
17
AS
$144
2
PW
$0
0
MH
$0
0
FM
$0
0
Top recipients — physicians & teaching hospitals
The individual physicians and teaching hospitals receiving the most from industry in 2025. A large total often reflects research funding routed through an institution, not personal enrichment.
