For decades, Democrats have bashed big pharmaceutical companies in their campaign ads and stump speeches.
The drug industry has responded – by shelling out millions to liberal candidates.
Between the 2016 and 2022 election cycles, the top 10 pharmaceutical firms gave $29 million to Democrats and just $24 million to Republicans, according to an analysis by the group Conservatives for Lower Health Care Costs obtained by The Post.
The study looked at data available from OpenSecrets and included funds given to super PACs supporting prominent political candidates.
“This analysis reinforces what we’ve known for a long time: Big Pharma has long used its exorbitant profits to peddle influence with both parties in Washington,” said Colin Seeberger, senior communications adviser at the Center for Action Fund for American Progress.
“But the Democrats are the only party that has taken bold action to fight the greed of drug makers and lower drug prices.”
Progressives have long called for government intervention to lower drug prices. But the industry gives big bucks to Democrats. AP President Biden has repeatedly boasted about his efforts to curb drug prices. AFP via Getty Images
Donations made to pharmaceutical manufacturers mostly consist of contributions from affiliated super PACs or other groups in addition to individual executives and employees at the company.
Democrats took in $7.16 million — compared to Republicans’ $7.05 million — from companies dealing in “pharmaceutical/health products” during the 2023-2024 cycle, according to OpenSecrets, whose analysis was up to date on Oct. 18. 2023.
In the 2022 cycle, this dichotomy of donations from “pharmaceutical/health products” saw about $24 million go to Democrats and just under $16 million earmarked for Republicans, per OpenSecrets.
Democrats have repeatedly championed legislation targeting the industry — including the Inflation Reduction Act (IRA) of 2022, which would give Medicare the power to negotiate certain drug prices rather than relying on third parties.
Donald Trump issued an executive order to tie drug prices under Medicare Part B to overseas costs. AP
Negotiating Medicare drug prices has been a long-term policy objective for progressive activists.
The IRA also imposed several other measures aimed at curbing drug costs, such as a “$35 cap on a month’s supply of insulin” for seniors on Medicare.
“It’s actually amazing to me that Big Pharma would give more money to Democrats than Republicans because Democrats have done nothing but pass legislation to hurt Big Pharma,” one Republican strategist told The Post.
“They continue to believe that Democrats help them more than Republicans.”
In recent years, a group of prominent GOP politicians have criticized the pharmaceutical industry over grievances arising from the COVID-19 pandemic.
The pharmaceutical industry engages in extensive lobbying in Congress. AP
Conservatives also tend to view Big Pharma with skepticism over its relationship with the federal government — especially the Food and Drug Administration’s approval process and patent laws.
“Democrats are coming from the left when they say Pharma is abusing market power,” said a Republican who recently managed a key Senate campaign.
“We’re coming from: Pharma cut this deal with the government, they get extended patent life protection … they’re basically using the power of the state to raise prices on you.”
Democrats also topped Republicans in the “pharmaceutical/health products” category on OpenSecrets in the 2020 and 2018 election cycles, though not in 2016.
Historically, Democrats have not always been favorites on the fundraising circuit.
Big Pharma doesn’t always give Democrats an advantage on the fundraising circuit. AFP via Getty Images
An OpenSecrets assessment of donations to Congress found that Republicans received $166.83 million from the industry between 1990 and March 20, 2023, compared to Democrats’ $161.57 million.
“We engage with members on both sides of the aisle who have a variety of policy opinions and different priorities,” Alex Schriver, senior vice president of public affairs at the Pharmaceutical Research and Manufacturers Association, told The Post.
“We may not agree on every issue, but we believe engagement and dialogue are essential to promoting a health care policy environment that supports innovation, a highly skilled workforce and access to life-saving medicines.”
Politicians on both sides of the aisle are increasingly showing an appetite for going after the pharmaceutical industry. AFP via Getty Images
Ahead of the Nov. 5 election, several Republican strategists told The Post that they are advising their clients to step up their political fire against the industry because of the potential issue with voters.
“When I talk to other campaigns and candidates, I make the same suggestion,” the former GOP campaign manager said. “Pharma funds your opponents. They are very unpopular among your voters. You should hit them.”
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Source: thtrangdai.edu.vn/en/
