Casey tied to Chinese firm he claimed McCormick-led company invested in to ‘profit’ off Fentanyl crisis
Fox News
Pennsylvania Sen. Bob Casey is invested, through several mutual funds, in the same Chinese fentanyl manufacturer that he recently cut an ad attacking Republican candidate Dave McCormick’s company for investing in.
The Pennsylvania senator’s campaign claimed McCormick was “profiting off people’s pain” in an ad released earlier this month, slamming his company, Bridgewater Associates, for investing in Humanwell.
However, Casey owns stock in the Chinese company as well, according to publicly available financial disclosures.
Through his ownership of shares in a college savings plan, which is invested in the Masschusetts College Portfolio, a mutual fund managed by Fidelity, Casey is invested in Humanwell. His ultimate stake in the company is
The Pennsylvania Democrat’s campaign did not provide comment to Fox News Digital in time for publication.
“With his ad, Bob Casey has put his own hypocrisy and lies on display, and it’s proof of why Pennsylvanians are so tired of career politicians,” McCormick said in a statement to Fox News Digital. “Casey has had 18 years to secure our border and prevent fentanyl from killing 100,000 Americans last year alone—under his weakness, this crisis has worsened beyond imagination.”
Casey also owns stock in Jiangsu Nhwa Pharmaceutical and Sinopharm Group which are similarly involved in the manufacturing and wholesale of Chinese narcotics, respectively.
Humanwell, as a pharmaceutical manufacturing company, produces medical-grade opiates. It is not one of the Chinese companies that has been singled out by the U.S. as a producer of lethal fentanyl precursor chemicals that are transported illegally through the southern border.
According to the Drug Enforcement Administration (DEA), “llicit fentanyl, primarily manufactured in foreign clandestine labs and smuggled into the United States through Mexico, is being distributed across the country and sold on the illegal drug market.”
Overdose deaths due to synthetic opioids have risen substantially, with the primary cause being illicitly manufactured fentanyl, per the DEA.
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Pennsylvania is shaping up to be one of the most important states in the 2024 election, potentially deciding the presidential race and which party will control the Senate. And one particularly pressing issues in the state is the rapid increase in overdose deaths and substance abuse.
In 2022, Pennsylvania had the 14th highest drug overdose death rate in the country. There were a total of 5,169 deaths from drug overdoses, per the Centers for Disease Control and Prevention (CDC).
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Following Casey’s ad hitting McCormick on investing in Humanwell, the Pennsylvania Republican cut his own ad, claiming, “Bob Casey is lying about me.”
“I never made any investments in the makers of illegal fentanyl, ever,” he said. “Bob Casey is too weak to close the border and too weak to tell the truth.”
Casey’s Pennsylvania Senate seat is considered “Lean Democratic” in the 2024 election, according to non-partisan political handicapper the Cook Political Report. In a recent poll by the New York Times and Siena College, Casey led McCormick 51% to 37% among likely voters and 50% to 36% among registered voters.