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Pelosi Bill Benefits Husband’s Pharma Stock

From CNS News:

Pelosi’s Bill Could Benefit Husband’s Stock Holding

By Fred Lucas
March 05, 2008

(CNSNews.com) – On July 27, 2007, 28 executives of the Thousand Oaks, Calif., pharmaceutical firm Amgen contributed more than $20,000 to House Speaker Nancy Pelosi’s (D-Calif.) campaign.

On Aug. 2, Pelosi (D-Calif.) reintroduced the Early Treatment for HIV Act, a bill that could boost Medicaid coverage of HIV-related drugs, including Procrit, which is manufactured by Amgen and marketed by a subsidiary of Johnson & Johnson, a firm in which Pelosi’s husband owns at least $250,000 in stock, according to Pelosi’s disclosure forms.House Speaker Nancy Pelosi (D-Calif.)

Specifically, the legislation would give states the option to allow patients who are HIV-positive, but do not have AIDS, to qualify for Medicaid coverage earlier in the course of the virus. Currently, Medicaid coverage doesn’t kick in until a patient develops AIDS.

The legislation could also extend to HIV drugs Prezista and Intellence, manufactured by a Johnson & Johnson subsidiary. But these two drugs would not always be for early treatment of HIV…

The firm Ortho Biotech, an affiliate of Johnson & Johnson, sells Procrit under a license from Amgen, according to the Amgen Web site…

[E]xpanding the number of HIV patients eligible for Medicaid would increase access to Procrit…

In addition to the 28 separate contributions Pelosi received last July from Amgen, seven other contributions were made by executives in the months of July and August, for a total of $30,050 to Pelosi’s re-election campaign. Also, AmgenPAC (political action committee) gave Pelosi’s campaign a total of $10,000 last year

At least two former staff members for Pelosi work for Amgen.

Howard Moon, a one-time policy advisor for Pelosi, went to work as a director of government affairs in the Washington, D.C., office of Amgen.

Meanwhile, Pelosi’s former chief of staff, George Crawford, became a lobbyist in 2006 – before the Democrats took control of Congress – and one of his clients at the time included Amgen, Davenport said. But Crawford today no longer represents Amgen.

“Howard Moon is a member of our staff – director, Government Affairs,” Davenport wrote in her statement. “We don’t publicly comment on specific consultants & their scope of work. However, King & Spalding, where George Crawford is employed, is a former consulting firm of Amgen’s.” …

Mind you, this is the same Nancy Pelosi who railed against “Republican corruption” to get herself elected speaker.

This is the same Nancy Pelosi who has already been caught in numerous other shady practices.

But our watchdog media ignores all of that. They are too busy breathlessly reporting some hole in the wall Vermont town’s “indictment” of Messrs. Bush and Cheney — for the hundredth time.

This article was posted by Steve on Wednesday, March 5th, 2008. Comments are currently closed.

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