Approximately one-third of the total pharmaceutical company campaign contributions can be attributed to the top three donors: Pfizer, Merck, and Eli Lilly & Co.
In the context of presidential candidates, Vice President Kamala Harris has received a larger sum of donations compared to former President Donald Trump, focusing on tackling the high price of prescription drugs. The issue was briefly addressed during a presidential debate between Harris and Trump, where Harris elaborated on her proposed healthcare plan.
The healthcare policies and initiatives implemented during Trump’s previous presidency and the current Biden-Harris administration are worth examining before delving into the current platforms of the two candidates.
Trump’s efforts to lower drug prices faced challenges from various stakeholders, resulting in limited success in executing his proposed policies. In contrast, the Biden-Harris administration has taken steps to address drug pricing, with Vice President Harris actively advocating for affordable healthcare and lower prescription drug costs.
Under the Biden-Harris administration, significant measures have been implemented to reduce prescription drug prices for Medicare beneficiaries and enable Medicare to negotiate drug prices on their behalf. Additionally, actions have been taken to regulate drug prices in the broader market and ensure access to affordable healthcare.
As the election approaches, the pharmaceutical industry is mindful of the potential impact of the candidates’ healthcare policies. While Harris has garnered support from top pharmaceutical companies, Trump’s stance on drug pricing and healthcare remains a topic of interest. Investors in the life science sector must navigate the uncertainties posed by the election outcomes, as both candidates have implications for pharmaceutical stocks.
