Pharma to John McCain: Stop Being a Pill

John McCain seems to be getting a taste of his own medicine. For years the Arizona senator has opposed measures that would benefit major pharmaceutical manufacturers (or supported those that could hurt them), and now the industry, which traditionally supports Republican candidates for president, is injecting Barack Obama's campaign with cash instead. Bloomberg today used data from the Center for Responsive Politics to analyze the industry's apparent shift in this presidential race.

In the 2004 presidential election, the pharmaceutical industry (including the pharmaceutical manufacturers mentioned in the Bloomberg story, in addition to makers of medical devices, dietary supplements, etc.), gave President Bush $1 million for his re-election campaign. Opponent John Kerry collected $623,200. This cycle, however, Obama has brought in more than twice what McCain has received from the industry ($848,000 compared to $347,400, and $450,094 compared to $132,575 when you isolate the money to drugmakers only).

"The difference is that the Republican candidate is a critic of the drugmakers instead of an ally as in the past, leaving the industry without a champion because Obama also has taken positions at odds with the pharmaceutical companies," Bloomberg's Justin Blum wrote.
 
Although McCain has lost some favor with the industry, he has touted his position against the industry in ads to win votes. As a senator, McCain has sponsored legislation to allow consumers to get drugs from other countries and he opposed Medicare's prescription drug benefit.

In general, however, the industry has been starting to lean toward Democrats, at least in terms of the money that's exchanging hands. This is the first election cycle in which pharmaceutical and health products companies have evenly divided their contributions to parties, candidates and committees between the two parties (about $9 million to each). While industries of all types are following suit, the health care sector especially is gearing up for significant health-related legislation out of the new Congress and administration.