Pfizer's Political Donations: How Much And To Whom?

Pfizer Inc. is a multinational pharmaceutical and biotech company that has been a top spender on lobbying and campaign contributions. In 2022, the company spent $11.6 million on lobbying the federal government, and it has made notable donations to both Republican and Democratic campaigns. For example, Pfizer donated $1 million to the Republican Party of Kentucky's building fund in 2022 and $1 million to President Biden's inaugural committee in 2021. The company has also contributed to presidential campaigns in the past, including those of Barack Obama and Hillary Clinton.

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Pfizer's $1 million donation to the Republican Party of Kentucky

Pfizer Inc. is a multinational pharmaceutical and biotech company based in New York. Its brands include Viagra, Zoloft, and Lipitor, and more recently, the Pfizer-BioNTech COVID-19 vaccine and the antiviral Paxlovid. Fueled by sales of its COVID-19 vaccine, Pfizer's revenue doubled to $81.3 billion from 2020 to 2021, and the company reported $76 billion in revenues for the first three quarters of 2022.

Pfizer is no stranger to political spending. In 2022, the company spent $11.6 million lobbying the federal government, ranking it among the top dozen lobbying spenders. Pfizer's affiliates and political action committees (PACs) contribute generously to federal candidates of both parties. From 1999 to 2018, Pfizer and other pharmaceutical companies contributed a total of $414 million to federal candidates, national party committees, and outside spending groups.

In January 2023, Pfizer donated $1 million to the Republican Party of Kentucky's building fund to expand its headquarters in Frankfort. This contribution may be the largest political donation ever made to a political party in Kentucky. The donation was part of a series of large corporate contributions totaling $1.65 million in the final quarter of 2022, including $300,000 from Metropolitan Life Insurance Co. and $100,000 each from Altria Client Services LLC, Comcast Corp., and AT&T.

The Republican Party of Kentucky stated that the donation would be used for an expansion project due to the party's growth in the state. According to Kentucky law, funds raised for a political party's building account can only be used for expenditures related to the "purchase, construction, maintenance, renovation, and repair" of the state executive committee's main headquarters. The donation has raised questions about the size of corporate contributions and compliance with federal and state laws.

Pfizer's $1 million donation to Biden's inaugural committee

Pfizer Inc. is a multinational pharmaceutical and biotech company based in New York. It is known for drugs such as Viagra, Zoloft, and Lipitor, and more recently, for the Pfizer-BioNTech COVID-19 vaccine and the antiviral Paxlovid. Fueled by sales of its COVID-19 vaccine, Pfizer's revenue doubled to $81.3 billion from 2020 to 2021, and the company ranked 43rd on the Fortune 500 list.

Pfizer is no stranger to political spending, and it has a history of donating to political campaigns and lobbying. In 2022, the company spent $11.6 million on lobbying the federal government, ranking it among the top dozen lobbying spenders. From 1999 to 2018, Pfizer contributed to the $414 million that the pharmaceutical and health product industry donated to federal candidates, national party committees, and outside spending groups. Pfizer was also one of the top 20 presidential candidates' biggest recipients of campaign contributions, with Barack Obama receiving the most at $5.5 million.

In 2021, Pfizer donated $1 million to U.S. President Joe Biden's inaugural committee, which raised a total of $61.8 million from corporations, labor unions, and wealthy individuals. Pfizer was one of about ten large corporations that contributed $1 million each, including AT&T Services Inc, Bank of America Corp, Boeing Co, Uber Technologies Inc, Lockheed Martin Corp, and Qualcomm Inc. The committee also received $500,000 donations from around a dozen individuals and $1 million from the International Brotherhood of Electrical Workers, a major labor union.

Pfizer's ranking as a top lobbying spender

Pfizer's lobbying expenditures are not isolated incidents but part of a broader trend in the pharmaceutical and health products industry. This industry has consistently been one of the top spenders in lobbying, with a total expenditure of over $5.8 billion from 1998 to 2023. Pfizer has consistently ranked among the top corporate spenders within this industry, alongside companies like Amgen, Eli Lilly, and Novartis.

The effectiveness of Pfizer's lobbying efforts is notable. For example, in Ohio, the pharmaceutical industry spent $61 million on campaign donations in 2017, successfully defeating an initiative to lower drug prices. This demonstrates the industry's ability to shape policy through financial contributions. From 1999 to 2018, the industry contributed a total of $414 million to federal candidates, national party committees, and outside spending groups, with Pfizer being a significant contributor.

Pfizer's spending on lobbying and campaign contributions is influenced by various factors, including the desire to shape legislation related to drug costs and taxes. The company's financial resources allow it to invest substantial amounts in influencing policy, which has led to its consistent ranking as a top lobbying spender. Pfizer's spending has sparked debates about the role of money in politics and the need for campaign finance reforms to ensure a more level playing field for all interests.

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Pfizer's donations to presidential candidates

Pfizer Inc. is a multinational pharmaceutical and biotech company based in New York. It is no stranger to political spending and has donated to both Republican and Democratic candidates. In 2023, Pfizer gave $1 million to the Republican Party of Kentucky, which may be the largest political contribution ever made to a political party in the state. The company also contributed $1 million to Democratic President Biden's inaugural committee in 2021.

Pfizer is one of the top spenders on lobbying and campaign contributions. From 1999 to 2018, the company spent a total of $11.6 million on lobbying the federal government, ranking it among the top dozen lobbying spenders. During the same period, Pfizer contributed $96 million in soft money to federal candidates, national party committees, and outside spending groups.

Pfizer has also contributed to presidential campaigns, with Barack Obama receiving $5.5 million, the most of any candidate. Hillary Clinton received $3.7 million, Mitt Romney received $3 million, and George W. Bush received $2.4 million. These contributions total $14.6 million, which is a portion of the $96 million that Pfizer contributed in soft money during that time.

While Pfizer has made substantial donations to both Republican and Democratic candidates, the company's political action committee (PAC) donations are not publicly available. PACs are organizations that pool campaign contributions from members of corporations, labor unions, and ideological groups. They can have a significant influence on elections, but their activities are not always transparent.

Pfizer's donations to federal and state political committees

Pfizer PAC considers candidates' views on issues that impact Pfizer and its employees, as well as the presence of Pfizer facilities or employees in the candidate's district or state. The PAC steering committee reviews and approves all recommendations for contributions on a monthly basis. Pfizer's internal policies restrict the use of its resources to support federal and state candidates, political parties, and committees.

Pfizer's website states that it is fully compliant with all federal, state, and local laws and reporting requirements governing corporate political contributions. The company publishes all its corporate political contributions and employee PAC contributions annually on its website and with the Federal Election Commission and appropriate state election authorities.

Pfizer's federal and state lobbying priorities focus on trade, healthcare, access to prescription drugs, and patent protection. The company's lobbying activities are managed by its U.S. Government Relations leaders, who report to the Governance & Sustainability Committee.

According to OpenSecrets, Pfizer's political action committee contributed to 228 lawmakers ahead of the 2020 election. Pfizer Inc. staff also made large contributions totaling $21,100 to anti-democracy federal legislators during the 2022 election cycle. Former Pfizer CEO and Chairman William Steere contributed $14,300, while current CEO and Chairman Albert Bourla contributed $2,900.

Pfizer has also contributed at least $137,100 to state officials who voted for anti-voter legislation during the 2022 election cycle.

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