Worried over election results, Big Pharma whips out its pocketbook

Big Pharma is scrambling to make new connections with Democratic senators and representatives after the November elections. A Georgia Lawyer cites an MSNBC article that says:

After spending an estimated $10 million on Republican incumbent candidates ahead of this year’s mid-term elections Democrats received about $4.5m no other sector is expected to face as hostile a reception on Capitol Hill after the Democrats take over in 2007.

Big Pharma has already recruited several high powered Democrats, including John Breaux, a former senator and drug lobbyist. Many drug company executives like Jeffrey Kindler … have already shifted their support to the new majority party.

This comes as no surprise as Big Pharma certainly fears the end of the free ride on Medicare that it has held for so many years. This issue is further discussed here.

Clearly, Big Pharma’s real loyalty is not to red or to blue — but to green, as in dollars. Let’s just hope that these moves don’t signal a new cycle of Washington corruption at the hands of Big Pharma.

Comments (2)

Investors watch Eli Lilly shares drop $2.80 post election.

My issue is Zyprexa which is only FDA approved for schizophrenia (.5-1% of pop) and some bipolar (2% pop) and then an even smaller percentage of theses two groups.

So how does Zyprexa get to be the 7th largest drug sale in the world?

Eli Lilly is in deep trouble for using their drug reps to ‘encourage’ doctors to write zyprexa for non-FDA approved ‘off label’ uses.

The drug causes increased diabetes risk,and medicare picks up all the expensive fallout.There are now 7 states (and counting) going after Lilly for fraud and restitution.—

Daniel Haszard

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