Sarah Godlewski sells shares in pharmaceutical companies before attacking them

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Now that the state treasurer Sarah Godlewski is a candidate for the United States Senate, she is very concerned about the skyrocketing cost of prescription drugs.

“For decades, politicians in Washington have promised to lower the cost of prescription drugs,” Godlewski said in a recent TV ad.

“But every year the prices go up. Why ? Because Republicans love Ron Johnson and – let’s be honest – too many Democrats don’t have the guts to stand up to the drug companies. I am Sarah Godlewski, and I will.”

But the multi-millionaire Democrat had a different take on Big Pharma when deciding where to invest her vast wealth.

According to her Personal Financial Disclosure Statement filed last August, Godlewski and her husband, Max Duckworthwere in stock at 14 pharmaceutical companies with a total value of between approximately $64,000 and $446,000.

The companies in which Godlewski had invested included companies as large as Abbott Laboratories, Eli Lilly & Co.. and Amgen Inc.

Irene Lincampaign manager for another Democratic candidate Tom Nelson, said Godlewski appears to be personally profiting from the companies she is now attacking for political gain. Nelson, the Outagamie County executive, and Godlewski are among 10 Democrats vying for the right to face Johnson, a Republican

“Why is she so heavily invested in Big Pharma if she thinks they are harming the people of Wisconsin? Are they making pills to cure irony?” Lin said. “We need a senator we can trust to fight for us, not their stock portfolio.”

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Godlewski’s campaign responded by saying she and her husband sold their holdings in 13 of 14 pharmaceutical companies at the end of last year and the last this year. The campaign did not say how much money it made from those sales.

The campaign noted that these Big Pharma stocks, which are popular because they provide reliable income, were bought and sold as part of routine investment management. She was not involved, according to the campaign, in the day-to-day buying and selling of her shares.

“I’m running to serve Wisconsin, not myself,” Godlewski said in a statement. “That’s what I did as state treasurer, and as a senator, I will fight for a wealth tax, I will pass a ban on stock trading by members of the Congress and I will stop big pharma from ripping off those who can’t afford life-saving prescription drugs.”

Lasry held shares in China-based companies

The situation is similar to that involving a Democratic candidate Alex Larywho aired a TV ad to “finally stand up to China”.

Lasry held shares in at least three China-based companies — Chindata, Tencent and Alibaba — for between $101,000 and $202,500, according to his August financial report. Lasry’s campaign officials say he sold all of those shares.

Investments are likely to be a bigger issue for Lasry and Godlewski since they are the only multi-millionaires among Democrats. Johnson also has deep pockets but has been reluctant to fund his campaign since he was first elected in 2010.

Earlier this year, Godlewski reported that she and Duckworth had assets worth between $23.9 million and $60 million, according to a Sentinel Diary To analyse. Among their holdings are seven rental properties, including a condo in Washington, DC, which they bought in 2017 for $1.2 million.

It is unclear whether she used some of the money from the sale of her shares in a pharmaceutical company to pay for her recent series of television commercials.

Last month, she released a 30-second TV spot and a four-page plan to get prescription drug costs under control. His plan would allow Medicaid to negotiate lower drug costs, cap prescription fees for the elderly, and limit the price of widely used prescription pills.

“As drug companies make record profits, people are skipping pills to make their prescriptions last a little longer, while others have to choose between groceries and lifesaving drugs,” Godlewski’s plan said.

According to her financial disclosure forms, the largest shares she owned were in AbbViean Illinois-based biopharmaceutical company that was a spin-off from Abbott Laboratories, and Amgen in Thousand Oaks, California.

Godlewski held corporate securities between $18,000 and $96,000 in each of the two companies. Federal disclosure forms do not require applicants to list their exact holdings, only a range for their various investments.

She and her husband also owned shares of $15,000 to $50,000 in BioXcel therapeutics and between $3,000 and $46,000 in Abbott Laboratories.

In the year before the 2021 filing, Godlewski said she and her husband received dividends or capital gains from their stakes in the drug company of about $13,300 to $42,600.

Abbott Labs, AbbVie and Amgen are among the 20 pharmaceutical companies that have given the most to federal candidates in the 2021-22 cycle, according to OpenSecrets.org.

Godlewski pointed out in her statement that she had not received any donations from political action committees run by pharmaceutical companies or any other corporations.

“The people of Wisconsin know I will support them because I have never taken a dime from the corporate special interest PAC, and I never will – something not every candidate in this race can. not say,” Godlewski said.

Godlewski did not name naysayers she might criticize.

But in 2016, Nelson received a $1,000 donation from PAC to U.S. Venture Inc.., a fuel distributor based in Kimberly, near Nelson’s Appleton residence.

Nelson’s campaign said it didn’t appreciate veiled criticism. Lin said the 6-year-old donation comes from a major Outagamie County company that employs hundreds of state residents.

“People in Wisconsin getting ripped off by Big Pharma already knew they were corrupt,” Lin said. “But Sarah Godlewski only discovered this after launching her US Senate campaign and now self-funds her campaign ads with lucrative profits on Pharma stock.”

Contact Daniel Bice at (414) 313-6684 or [email protected] Follow him on Twitter @DanielBice or on Facebook at fb.me/daniel.bice.


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