Pharma Companies and Industry Groups Pause Donations Amid US Capitol Riots

Strategic Insights -

Several pharma companies, including Eli Lilly, Johnson & Johnson, and Sanofi, have paused political donations in the wake of the US Capitol riots, joining a growing coalition of businesses reevaluating donations and refusing to fund politicians who denied the presidential election results. The companies are canceling or reevaluating donations to elected officials who perpetuated claims of election fraud and voted against certification. The pharma industry trade groups, PhRMA and BIO, have also canceled donations and spoken out against the elected officials who promoted violence and sedition.

Key Takeaways:

  • Eli Lilly canceled all political giving to those who voted against certification of the 2020 election results, citing the need for candidates to demonstrate respect for people and respect for the democratic process.
  • Sanofi is pausing other U.S. political donations and reviewing future contribution guidelines in light of the violence at the Capitol.
  • Johnson & Johnson is re-evaluating its giving policies and criteria in response to the riots.
  • PhRMA President and CEO Steve Ubl stated that the actions of elected officials who denied the election results violate the values of the biopharmaceutical research companies, and that the industry is pausing political giving to those candidates.
  • BIO CEO Michelle McMurry-Heath, M.D., expressed concern that elected leaders chose to ignore facts and embrace discredited conspiracies, leading to the horrific events at the Capitol.

Statistics:

  • Over 100 companies, including Amazon, AT&T, Google, Microsoft, Coca-Cola, and J.P. Morgan, have paused donations completely or cut ties to specific candidates for their false claims of election fraud.
  • Eli Lilly's political action committee, LillyPAC, has canceled donations to elected officials who voted against certification of the 2020 election results.
  • Sanofi does not contribute to presidential candidates but is pausing other U.S. political donations.
  • Johnson & Johnson's review of its giving policies and criteria is ongoing.

Sources:

  • "Pharma industry condemns D.C. thugs and riots—execs and trade groups call for consequences" by Beth Snyder Bulik, Fierce Pharma (https://www.fiercepharma.com/pharma/pharma-industry-condemns-d-c-thugs-and-riots-execs-and-trade-groups-call-for)
  • "Fierce Pharma Politics—Judge blocks Trump's 'most favored nation' drug pricing rule" by Fierce Pharma (https://www.fiercepharma.com/pharma/fierce-pharma-politics-judge-blocks-trump-s-most-favored-nations-drug-pricing-rule)