So Dr. Tom Price is in the midst of hearings to consider his appointment as Secretary of Health and Human Services.
One question came up about his investment in a company:Innate ImmunotherapeuticsCompany Overview
Innate Immunotherapeutics Limited is a medical biotechnology company with offices in Sydney (Australia) and Auckland (New Zealand).
(<--- Not in the USA...)http://www.innateimmunotherapeutics.com/irm/content/company-overview.aspx?RID=299NOTICE: on the board of directors, a familiar name, CHRISTOPHER COLLINS
that's Senator Christopher Collins, yes indeedy.http://www.innateimmunotherapeutics.com/irm/content/board-of-directors.aspx?RID=251Christopher C Collins, B.S, M.B.A.
Chris has over 30 years of experience in business management. He founded Nuttall Gear Corporation (New York), which was subsequently acquired by Altra Holdings (Nasdaq: AIMC). Collins has helped acquire, manage and make profitable 17 companies representing various industries. Collins was elected to the US House of Representatives in 2012 and now serves as the Congressman for New York 27 in Western NY. He currently serves on the Energy & Commerce Committee where he is a member of thre subcommittees - Health, Telecommunications and Oversight & Investigations
.AND, the LARGEST shareholder in the company is ^^^^^^^ guess who? Yep. Christopher Collins:Top 20 ShareholdersRank Name Units % of Units 1. CHRISTOPHER COLLINS 37,899,139 17.06
2. NATIONAL NOMINEES LIMITED 12,816,849 5.77
3. CITICORP NOMINEES PTY LIMITED 6,457,505 2.91
4. CAITLIN COLLINS 5,200,000 2.34
5. CAMERON COLLINS 5,200,000 2.34
6. MERRILL LYNCH (AUSTRALIA) NOMINEES PTY LIMITED 4,611,656 2.08Now, you might ask...
"So what does this have to do with Dr. Tom Price,
nominee for Secretary of Health and Human Services?"
He's invested in a company that will be seeking approval of a drug that has been in clinical trials:
RECRUITMENT CLOSING MARCH 31, 2016Phase 2B trial in Secondary Progressive Multiple Sclerosis
A Phase 2B randomized, double-blind, placebo-controlled trial of the efficacy and safety of MIS416 in the treatment of subjects with Secondary Progressive Multiple Sclerosis (SPMS) is currently recruiting up to 90 patients in Australia and New Zealand. Recruitment will close March 31, 2016. Patients with SPMS who might be interested in taking part in the trial should contact the study coordinator at one of the following sites as soon as possible:
1. Dr. Tom Price purchased stock that was not available to the public.
Company filings show it was private placement sale below market rates, available only to "sophisticated investors."
2. Dr. Tom Price (in Sept of 2016) traded in stocks while sitting in two committees that legislate healthcare and trade in healthcare which, btw has tremendous influence on the FDA, the agency that approves new drugs.
3. Reported stake at $50,000, when in fact it was $250,000. TODAY, the total value exceeds $500,000.
(Dr. Price: "must have been a clerical error")
Revised his report on 1/23/17 because it was wrong. (Dr. Price: 'I misunderstood the question about the value of the stock')
(Imagine what this stock purchase will be worth When asked, "Does this show bad judgment?" -- Dr. Tom Price said "NO."
when the company's drug gets approved by the FDA.)
He's made some clerical errors (like the Education Secretary nominee Betsy DeVoss, who said she WASN'T on the board of her mother's foundation, and that the "Vice President" listed on the foundations filings to the government was a "clerical error."
There is a serious increase in "clerical errors" ... maybe we need a Secretary of Accurate Reporting position in government.