News:
Pharma's presidential picks
[Entry posted at 19th August 2008 04:12 PM GMT]

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 Bloomberg News report 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 figures 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 recent CNBC article, 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


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