Rep. Tom Price takes heat for 6 healthcare company investments

Rep. Tom Price, MD, (R-Ga.) invested between $1,000 and $15,000 in six pharmaceutical companies during a time when his public office required him to make decisions that would affect the companies' bottom lines, Time reports.

Rep. Price sits on the House Ways and Means Subcommittee on Health that is responsible for crafting healthcare-facing legislation. While holding that role, he invested in:

  • Indianapolis' Eli Lilly
  • New York's Bristol-Meyers Squibb
  • Deerfield, Ill.-based Amgen
  • San Francisco's McKesson
  • Cambridge, Mass.-based Biogen
  • New York's Pfizer.

Last March, CMS proposed a rule that would change the incentives for prescribing physicians in an attempt to lower Medicare reimbursements from 6 percent of the price of a drug to 2 percent in addition to a small flat fee. Rep. Price opposed the change and co-sponsored legislation that would block the change if it were ever enforced, according to the report.

Rep. Price says a fund manager made the investments and stated plans to divest the stocks after confirmation.
https://www.beckersasc.com/asc-turnarounds-ideas-to-improve-performance/the-43-companies-rep-tom-price-plans-to-divest-after-confirmation-as-hhs-secretary-and-3-he-would-keep.html

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