Pfizer, PhRMA rank among groups pledging funding for Trump's inauguration: NYT

From condemning the Jan. 6 Capitol riots to helping fund the president-elect’s impending inauguration, recent years have seen biopharma leaders learn to embrace a "live and let live" mentality when it comes to Donald Trump.

Now, Pfizer and the trade group the Pharmaceutical Research and Manufacturers of America (PhRMA) rank among the organizations that have helped Trump raise a record-setting $150 million in pledges to fuel this month’s inauguration festivities, The New York Times reported over the weekend, citing sources tied to the fundraising efforts.

All told, Trump’s allies have raised more than $200 million in pledges since the November election in a bid to help fund not only the inauguration but also Trump’s broader political operation and, eventually, his presidential library, the NYT explained. The zeal behind the pledged donations signals an attempt by allies and corporate interests to win favor with Trump ahead of his second term, the newspaper points out.

Pfizer and PhRMA did not immediately respond to Fierce Pharma’s requests for comment on their reported donation decisions.

In Pfizer’s case, the move marks an evolution from 2021, when the pharma major’s helmsman condemned the actions of Trump supporters who raided the Capitol building ahead of President Joe Biden’s inauguration. The company also temporarily pulled funding from lawmakers who voted against the 2020 presidential election results.

Shortly after the unprecedented attack on the Capitol in 2021, Pfizer CEO Albert Bourla, Ph.D., sent a letter to colleagues and posted a statement on Twitter, now known as X, calling the violence “deeply disturbing.”

“Whether we are Republicans or Democrats, conservatives or liberals, we all have a role to play in making this democracy work,” he said at the time.

PhRMA’s chief executive Stephen Ubl also denounced the “appalling” riots, which he said “violate the better values of our nation.”

Still, the condemnation from the life sciences industry following Jan. 6, 2021, eventually subsided. Later that same year, many pharma majors began making donations to legislators who voted against the 2020 election results, according to a report from Accountable US in early 2022.

At the time, Pfizer defended its actions, telling Fierce Pharma that it adhered to its commitment to pause donations for six months to the 147 members of Congress in question. A spokesperson for the company said Pfizer’s PAC supports policymakers who value innovation, adding that the company consistently monitors officials’ conduct and statements when considering whether to chip in on political fundraising.

More recently, several industry leaders—including Pfizer’s CEO Bourla—have been cozying up to Trump personally as they attempt to navigate potential changes to the healthcare landscape under his incoming administration.

Early last month, Axios reported that Bourla, plus Eli Lilly chief David Ricks and PhRMA head Ubl dined with Trump, his incoming chief of staff Susie Wiles and Department of Health and Human Services secretary nominee Robert F. Kennedy Jr. at the president-elect’s residence at Mar-a-Lago in Palm Beach, Florida. Discussions during the dinner included how the public and private sectors can collaborate on finding cures for cancer, Axios reported in early December.

Pfizer is no stranger to working with Trump, thanks to the public-private collaboration on the rapid development and release of a COVID-19 vaccine under the Operation Warp Speed program in 2020. Reflecting on those efforts, Bourla told investors last month he’s interested in fostering a “very long-lasting relationship with Trump.”