Dialysis companies have contributed more than $104 million to defeat an initiative on California’s Nov. 6 ballot that would limit their profits — and are on the cusp of breaking the $109 million record set by the pharmaceutical industry in 2016.

Proposition 8, or the “Fair Pricing for Dialysis Act,” would cap dialysis clinic profits at 115 percent of the costs of patient care, with revenue above that amount to be rebated primarily to insurers. Medicare and other government programs, which pay significantly lower prices for dialysis, would not receive rebates.

For more, read Harriet Rowan’s coverage.