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.

 Finally, as CNN reported this weekend, Price introduced a bill that would assist a major medical device–maker less than a week after investing in it. Price bought between $1,001 and $15,000 in Zimmer Biomet, which manufacturers products like knee- and hip-replacement parts. Within days, he introduced the HIP Act, which would have delayed a regulation that would affect Zimmer Biomet’s profits by saving money on the way Medicare paid for hip- and knee-replacement surgeries.
The Office of Congressional Ethics needs to investigate whether Price violated the STOCK Act, which was passed in 2012 and was designed to stop insider trading by federal elected officials.
How is this guy qualified for a Cabinet post?

 

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