Big Pharma CEOs are hedging all bets by supporting both sides of the aisle in the 2024 election.
As Vice President Kamala Harris and former President Donald Trump enter the home stretch of their campaigns, both candidates have been financially supported by an increasingly anxious pharma sector.
Big Pharma is big into lobbying, and drugmakers upped their efforts in 2024, with more spending compared to the previous year, Politico reported. And there are several key policy issues at stake, including Medicare’s price negotiation power.
Pharma has historically supported Republicans, although that favorability flipped in 2020, with Democrats receiving more support since then, according to public data retrieved from Open Secrets. And Harris has received significantly more contributions from the pharma manufacturing sector — nearly $1.7 million — compared to former president Donald Trump, who cashed in just over $300,000, the data showed.
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