Biotechnology Gains a Political Presence
JIM HOPKINS / USA Today 4aug03
SAN FRANCISCO — The biotech industry, little known in political circles 10 years ago, is becoming a Washington powerhouse. Led by the San Francisco area's Genentech, biotech firms spent more than $100 million on federal lobbying and campaign contributions the past five years alone.
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That has given the industry a say in the Medicare debate in Congress, where it helped beat back efforts that could have cut prescription-drug prices for seniors, say campaign finance watchdog groups.
Biotech's spending is still dwarfed by other industries. In the 2002 congressional campaigns, lawyers gave candidates $36.3 million vs. $7.7 million from biotech. And the broader pharmaceutical industry has long been one of Capitol Hill's most powerful lobbies.
But pharmaceutical's offspring, biotech, is gaining ground — fast. It boosted annual spending on lobbying 50%, to $33.1 million last year from 1998, says the Center for Responsive Politics, a non-partisan watchdog group that calls the sector's political rise "meteoric."
Driving biotech's political run-up in the past 10 years:
- Start-ups.
The number of U.S. biotech companies jumped 18% since 1992, to nearly 1,500 — better than the 11% growth for all firms. Including the medical-device sector, biotech has grabbed 24% of all venture capital in start-ups this year vs. an average 15% just five years ago. - Revenue
The industry's annual revenue has quadrupled in the past decade to $33.6 billion last year amid rising demand for lifesaving drugs for aging baby boomers.
Biotech favors the Republican Party. Since 1990, 71% of its campaign contributions went to Republicans, says the Center for Responsive Politics.
Underscoring biotech's growing clout: President Bush in June became the first president to address the annual meeting of the 10-year-old Biotechnology Industry Organization, the sector's main trade group.
Bush spoke about issues dear to the industry — including his proposal to spend $6 billion to develop vaccines to fight smallpox and other bioterrors.
source: http://www.usatoday.com/tech/news/techpolicy/2003-08-04-biotech_x.htm 4aug03
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