3 Apr 2017 10:11 pm
Tom Price’s $150,000-Plus Stock WindfallTom Price Intervened on Rule That Would Hurt Drug Profits, the Same Day He Acquired Drug Stock
While in Congress, HHS Secretary Tom Price acted to help kill a rule that would hurt drug company profits shortly after his broker bought him up to $90,000 worth of pharmaceutical stock.
On the same day the stockbroker for then-Georgia Congressman Tom Price bought him up to $90,000 of stock in six pharmaceutical companies last year, Price arranged to call a top U.S. health official, seeking to scuttle a controversial rule that could have hurt the firms’ profits and driven down their share prices, records obtained by ProPublica show.
Stock trades made by Price while he served in Congress came under scrutiny at his confirmation hearings to become President Trump’s secretary of health and human services.
The lawmaker, a physician, traded hundreds of thousands of dollars’ worth of shares in health-related companies while he voted on and sponsored legislation affecting the industry, but Price has said his broker acted on his behalf without his involvement or knowledge.
ProPublica previously reported that his trading is said to have been under investigation by federal prosecutors.
Drain the swamp.