Genetic Engineering News Poll Illustrates Volatility of Presidential Race

Business Wire, Sept 24, 2004

LARCHMONT, N.Y. -- According to a website poll taken by Genetic Engineering News (GEN; www.genengnews.com), the biotechnology sector is evenly split over its choice for president of the United States in November.

Five hundred and seventy-three individuals responded to the question "Who would be a better advocate for biotechnology as president?" The results: 289 (50.44%) chose Kerry; 284 (49.56%) voted for President Bush. Showing the volatility of predictions for the forthcoming election, three days before the poll closed, Bush was ahead of Kerry, 53% to 47%.

The GEN polling, which took place over twelve days, reflects the importance of two issues that concern the biotechnology community. This group believes that the federal government should lift its ban prohibiting funding for research on new embryonic stem cell lines, which was put in place by the Bush administration; if elected, Senator Kerry has promised to lift such a ban. An upcoming vote on the Calfornia ballot pertaining to raising $3 billion in funds for stem cell research as a way around the federal ban is drawing strong national interest, especially over the last few days, which may be reflected in the surge for the Kerry vote on the GEN poll.

The biotechnology industry also is particularly concerned about the possibility of future government mandates of pricing of new therapeutics and biotechnology-derived products, similar to those put forth for consideration in 1992 when Hillary Rodham Clinton proposed to overhaul the healthcare system. The bioindustry seems to have more confidence that there will be less regulation by the federal government under Bush, even while they decry the ban on stem cell research.

Kenneth Thorpe, of Emory University, has estimated that Senator Kerry's healthcare plan could cost $653 billion from 2005 to 2014; Joseph Antos, from the American Enterprise Institute, puts the price tag at $1.5 trillion from 2006 to 2015. In addition, Senator Kerry has called for allowing the importation of prescription drugs from Canada.

"There is a concern among many in the biotech and pharmaceutical industries over a Bill and Hillary redux scenario, i.e., a nationalized healthcare system, which could include price fixing mandates, if Senator Kerry were elected president," says John Sterling, editor in chief of GEN. "Additionally, for U.S. pharmaceutical and biotech companies, the prospect of importing drugs from outside the country is anathema. Such concerns could work in favor of a vote for President Bush."

Genetic Engineering News, the first publication in the field of biotechnology, is the leading, most widely read, and largest-circulated trade magazine covering biotechnology/ biopharmaceuticals worldwide. GEN is published 21 times a year by Mary Ann Liebert, Inc. For a copy of the magazine, please call 914-834-3100, ext. 623, or e-mail: ebicovny@liebertpub.com.

To cast your vote on the current Genetic Engineering News poll, go to www.genengnews.com.