Advertisement

Pharma's presidential picks

In an industry known for backing Republicans, Sen. Barack Obama has emerged as a surprising pharma favorite in the US presidential election. In April, Obama won a mock election at the annual DTC national meeting, a drug advertising conference, with a 53% to 46% victory over Sen. John McCain. Drug companies have also put the money where their mouth is: Pharma has donated three times more to the Obama campaign than to McCain's. According to a linkurl:Bloomberg News report;http://www.bloomber

By | August 19, 2008

In an industry known for backing Republicans, Sen. Barack Obama has emerged as a surprising pharma favorite in the US presidential election. In April, Obama won a mock election at the annual DTC national meeting, a drug advertising conference, with a 53% to 46% victory over Sen. John McCain. Drug companies have also put the money where their mouth is: Pharma has donated three times more to the Obama campaign than to McCain's. According to a linkurl:Bloomberg News report;http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aRCVqfSQ43Eo citing data from the Center for Responsive Politics (CRP), pharma execs and employees have donated $450,094 to Obama, compared to $132,575 to McCain. CRP's Web site also lists linkurl:figures;http://www.opensecrets.org/industries/recips.php?cycle=2008&ind=H04 for donations that include pharmaceutical companies and makers of medical devices and other health-related products: Obama is ranked as the top recipient of donations in that category with $848,001, while McCain is in fourth place (behind Clinton and Romney) with $347,375. It's a clear contrast to the 2004 election, in which drug industry donations to George W. Bush almost doubled those to John Kerry. This year's top pharma donations come from Pfizer, Amgen, and Johnson & Johnson, according to CRP's website. Republican lobbyist John Feehery told Bloomberg the lack of industry funding helps McCain, solidifying his reputation as someone who fights special interests. "He goes after these companies and they don't like it." In a linkurl:recent CNBC article,;http://www.cnbc.com/id/26220788 analysts at Stratega Research Partners forecast that both Obama and McCain would be bad for big pharma because of their support for government regulation of Medicare drugs and reimportation, buy-back of American made drugs at abroad prices. Both candidates are expected to be positive forces for generics as the two men endorse moving drugs to the market faster, the article notes. For more on science in the upcoming election, stay tuned for our September issue and accompanying online content, for a look at key thought leaders poised to influence science policy during the next administration, and featuring a round-up of how the candidates stack up on science-related issues. August 19: This blog has been updated from a previous version
Advertisement

Comments

Avatar of: anonymous poster

anonymous poster

Posts: 29

August 19, 2008

So a "Republican lobbyist" opines that the lack of industry support for McCain helps him? So the more he does his job, the better McCain's chances of losing? This takes "spin" to a whole new level! :)
Avatar of: ROBERT HARRISON

ROBERT HARRISON

Posts: 6

August 19, 2008

There is no real political left and right in American presidential politics. Democrats and Republicans are all capitalists, so it doesn't really surprise me that big pharma. industry would align with one or other (or both) sides and vice versa.
Avatar of: David Claghorn

David Claghorn

Posts: 2

August 19, 2008

The very guy who would drive a stake into the heart of drug development (if he gets his little socialist way) gets the most money from the drug development industry. Big, fat "go figure"...
Avatar of: anonymous poster

anonymous poster

Posts: 10

August 24, 2008

The pharmaceutical companies make big bucks off of Medicare Part D since more people are buying their medications and the government helps pay for them. They also make big bucks off of Medicaid when it buys drugs. If we have universal health care more people will be getting and filling their prescriptions so pharma will be making more big bucks off the government.

Follow The Scientist

icon-facebook icon-linkedin icon-twitter icon-vimeo icon-youtube
Advertisement

Stay Connected with The Scientist

  • icon-facebook The Scientist Magazine
  • icon-facebook The Scientist Careers
  • icon-facebook Neuroscience Research Techniques
  • icon-facebook Genetic Research Techniques
  • icon-facebook Cell Culture Techniques
  • icon-facebook Microbiology and Immunology
  • icon-facebook Cancer Research and Technology
  • icon-facebook Stem Cell and Regenerative Science
Advertisement
Advertisement
Life Technologies