Trump Has Financial Interest in Hydroxychloroquine Manufacturer

President Donald Trump has a “small financial interest” in the maker of an anti-malarial drug that he has been touting as a “game changer” in treating coronavirus, according to The New York Times.

Over the past two weeks, Trump and his Fox News allies have aggressively promoted hydroxychloroquine as a potential cure, despite top infectious-disease expert Dr. Anthony Fauci and others urging caution and noting that there was not enough evidence of the drug’s efficacy.

The Times reports the president’s family trusts all have investments in a mutual fund whose largest holding is Sanofi, the manufacturer of Plaquenil, the brand-name version of hydroxychloroquine. Associates of the president, including Commerce Secretary Wilbur Ross, have also run funds that hold investments in the pharmaceutical firm. Daily Beast

Here’s the NY Times article:

President Trump made a rare appearance in the Situation Room on Sunday as his pandemic task force was meeting, determined to talk about the anti-malaria medicine that he has aggressively promoted lately as a treatment for the coronavirus.

Once again, according to a person briefed on the session, the experts warned against overselling a drug yet to be proved a safe remedy, particularly for heart patients. “Yes, the heart stuff,” Mr. Trump acknowledged. Then he headed out to the cameras to promote it anyway. “So what do I know?” he conceded to reporters at his daily briefing. “I’m not a doctor. But I have common sense.”

Day after day, the salesman turned president has encouraged coronavirus patients to try hydroxychloroquine with all of the enthusiasm of a real estate developer. The passing reference he makes to the possible dangers is usually overwhelmed by the full-throated endorsement. “What do you have to lose?” he asked five times on Sunday.

Bolstered by his trade adviser, a television doctor, Larry Ellison of Oracle and Rudolph W. Giuliani, a former New York mayor, Mr. Trump has seized on the drug as a miracle cure for the virus that has killed thousands and paralyzed American life. Along the way, he has prompted an international debate about a drug that many doctors in New York and elsewhere have been trying in desperation even without conclusive scientific studies.

For the balance of the NY Times piece, go here.