For decades, Democrats have been bashing Big Pharma in campaign ads and stump speeches.
The pharmaceutical industry responded by shelling out millions of dollars to liberal candidates.
Between 2016 and 2022, the top 10 drug companies donated $29 million to Democrats, but only a fraction to Republicans, according to an analysis by the Conservative Group for Lower Health Care Costs obtained by The Post. It donated only $24 million.
The study examines data available from OpenSecrets, including funds given to super PACs supporting prominent political candidates.
“This analysis confirms what we’ve known for a long time: Big drug companies have long used their excess profits to make money in Washington, D.C.,” said Colin Seeberger, senior communications advisor at the Center for American Progress Action Fund. He has been spreading his influence over the party.”
“But Democrats are the only party to take bold action to fight drug company greed and lower drug prices.”
The majority of donations to pharmaceutical manufacturers come from individual company executives and employees as well as from affiliated organizations such as super PACs.
During the 2023-2024 cycle, Democrats received $7.16 million (compared to Republicans’ $7.05 million) from companies dealing in “pharmaceutical and health products.” According to OpenSecretsthat analysis is current as of October 18, 2023.
In the 2022 cycle, the “Medicine/Health Products” contribution dichotomy allocated approximately $24 million to Democrats and just under $16 million to Republicans. Per OpenSecrets.
Democrats have repeatedly supported bills targeting the industry, such as the Inflation Reduction Act of 2022 (IRA), which gave Medicare the power to negotiate certain drug prices rather than relying on third parties.
Negotiating Medicare drug prices has been a long-standing policy goal for progressive activists.
The IRA also imposed several other measures aimed at containing drug costs, including “a $35 cap on a month’s supply of insulin” for seniors on Medicare.
“It’s really surprising to me that Big Pharma gives more money to Democrats than to Republicans when all Democrats do is pass legislation that hurts Big Pharma.” , one Republican strategist told the Post.
“They continue to believe that Democrats are more beneficial to them than Republicans.”
In recent years, a number of prominent Republican politicians have slammed the pharmaceutical industry for complaints stemming from the coronavirus pandemic.
Conservatives also tend to view Big Pharma’s relationship with the federal government with skepticism, particularly its relationship with the Food and Drug Administration’s approval process and patent law.
“When you say drug companies are abusing their market power, Democrats come from the left to criticize them,” said one Republican who recently led a key campaign in the Senate.
“What we have come to this issue is that drug companies are terminating government contracts and have extended patent term protection…They are basically trying to use state power to drive up prices. That is what we are doing.”
Although this was not the case in 2016, Democrats also outperformed Republicans in the open secret “drug/health products” category in the 2020 and 2018 election cycles.
Historically, Democrats have not always been favorites in the fundraising circuit.
OpenSecrets evaluation A breakdown of contributions to Congress shows that between 1990 and March 20, 2023, Republicans earned $166.83 million from the industry, compared to $161.57 million for Democrats. Ta.
“We are working with members on both sides of the aisle who have a wide range of different policy opinions and priorities,” Alex Shriver, senior vice president of communications for the Pharmaceutical Research and Manufacturers Association (PhRMA), told the Post.
“We may not agree on every issue, but fostering a health policy environment that supports innovation, a highly skilled workforce, and access to life-saving medicines requires engagement. I believe that dialogue is important.”
Ahead of the Nov. 5 election, several Republican strategists told the Post they are advising their clients to step up their political attacks on the industry because the issue could influence voters. he said.
“When I talk to other campaigns and candidates, I encourage the same thing,” the former Republican campaign manager said. “Pharmaceutical companies are funding your opponents. They are very unpopular among voters. You should punch them.”
