Slate had another great article on embattled nominee for HHS, Tom Price. The article mentions three areas where an “appearance of corruption” exists.
First, Price has used inside information to buy stocks in medical companies while also writing legislation that could sway those firms’ fortunes. The Wall Street Journal recently found that Price had “bought and sold stock in about 40 health-care, pharmaceutical and biomedical companies since 2012, including a dozen in the current congressional session.”
Second, in 2015, Price bought discounted stock in a small Australian biotech firm, Innate Immuno, that was attempting to win Food and Drug Administration approval for a new multiple sclerosis drug. Price purchased the stock in a private offering marketed only to “sophisticated U.S. investors” that Kaiser Health News referred to as a “sweetheart deal.” Price has notched a 400 percent gain on the investment.