On the Take: Kyrsten Sinema Pulls in More Money from Pharma and Finance Interests

by | Oct 18, 2021 | Money and Politics

On the Take: Kyrsten Sinema Pulls in More Money from Pharma and Finance Interests

by | Oct 18, 2021 | Money and Politics

Kyrsten Sinema has raised more campaign money in the last three months than in any quarter since she became a senator. Per Bill Madden, "This is what someone who's bought and paid for looks like."

Republished with permission from Common Dreams, by Brett Wilkins

U.S. Sen. Kyrsten Sinema, the right-wing Arizona Democrat obstructing her party’s $3.5 trillion Build Back Better bill, is the recent beneficiary of six-figure largesse from pharma- and finance-linked donors apparently rewarding her opposition to the flagship social and climate investment legislation, according to campaign finance disclosures filed Friday.

Politico and The Daily Poster report that Sinema raised over $1.1 million between July and September, with 90% of the campaign donations coming from outside Arizona. At least $100,000 of those contributions came from individuals or entities linked to the pharmaceutical and financial services industries.

According to Politico, Sinema has “raised more campaign money in the last three months than in any quarter since she became a senator.”

Politico reports:

Her individual donors… included a who’s-who of powerful people in the pharmaceutical industry. Top donors included the pharma giant Gilead’s CEO, Daniel O’Day, who gave $5,000 this past quarter. Another $2,900 came in from Eli Lilly CEO David Ricks. The executive chair of Merck’s board, Kenneth C. Frazier, also gave $2,900, as did the chair and CEO of Bristol Myers Squibb, Giovanni Caforio.

The CEO of Genentech, Alexander Hardy, gave $2,500. Meanwhile, the Pharmaceutical Research and Manufacturers of America’s executive vice president for policy and research, Jennifer Bryant, senior vice president for federal advocacy Anne Esposito, and executive vice president for public affairs Debra DeShong, each gave $1,000.

The Daily Poster adds that Sinema also received approximately $47,000 from executives at Welsh, Carson, Anderson & Stowe, a private equity firm that owns a large stake in Abzena, a company providing “outsourced research, development, and manufacturing services… to biopharmaceutical companies.”

Former U.S. Labor Secretary Robert Reich noted earlier this week that Sinema has received over $750,000 from Big Pharma throughout her career.

While Sinema campaigned on a promise to “lower prescription drug prices,” she has been one of the staunchest congressional opponents of allowing Medicare to leverage its tremendous purchasing power to negotiate lower medication prices.

Among Sinema’s biggest financial services industry donors disclosed in the new filing are Goldman Sachs president John Waldron, who gave the maximum allowable amount of $5,800; Blackstone senior managing directors Giovanni Cutaia and Eli Nagler, who donated a combined $5,700; and Facebook co-founders Cameron and Tyler Winklevoss, who both gave the maximum amount. The Winklevoss twins have amassed a multi-billion-dollar cryptocurrency empire; Sinema is a member of the Senate subcommittee charged with regulating digital currencies.

The new disclosures came as Sinema traveled to Europe to raise more campaign cash, and as the head of an advocacy group linked to the billionaire-backed Koch network urged her to “stay strong” in her efforts to torpedo her party’s budget reconciliation package.

Responding to the new reports, musician and environmental activist Bill Madden tweeted, “This is what someone who’s bought and paid for looks like.”

<a href="http://commondreams.org" target="_blank">Common Dreams</a>

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