The medical device industry is betting on a Republican sweep of the U.S. Congress during the 2014 mid term elections, according to a MassDevice.com analysis of donations made by the industry’s 10 largest political action committees.
Dollars from medtech to political candidates and incumbents favor the GOP by a margin of 58% to 42% during the 2014 election cycle, according to our analysis, which used data collected by Opensecrets.org. The sample includes donations made up until Oct. 15 and tracks donations made by the top 10 PACs for the medical device industry.
Those PACs donated more than $2.2 million to political candidates during 2014, with $1.3 million going to GOP candidates and $940,000 to Democrats.
During the 2012 election cycle medtech also favored the GOP, with 56% of the $2.8 million spent by PACs going to Republican lawmakers, compared with 44% to Democrats.
Marlborough, Mass.-based Boston Scientific (NYSE:BSX) and its Bay State neighbor Covidien (NYSE:COV) leaned heaviest in favor of the Grand Old Party. More than 76% of Boston Scientific’s donations went to Republican politicians, while Covidien sent more than 68% of its political donations to Republicans.
On the other side of the aisle, Becton Dickinson & Co. (NYSE:BDX) and Baxter (NYSE:BAX) sent more money to Democrats. BD sent 58% of its donations to the Dems, with Baxter donating 55% in favor of the party.
The GOP is expected to control both houses of Congress after the elections are held in just about 2 weeks.
|Johnson & Johnson||$160,000||$200,000||$360,000|
|St. Jude Medical||$58,000||$105,500||$163,500|
|Becton, Dickinson & Co.||$65,000||$48,000||$113,000|