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"Rumsfeld’s growing stake in Tamiflu" |
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Posted: February 15 2006 at 2:19pm |
Rumsfeld's growing stake in Tamiflu
Defense Secretary, ex-chairman of flu treatment rights holder, sees portfolio value growing. October 31, 2005: 10:55 AM EST By Nelson D. Schwartz, Fortune senior writer NEW YORK (Fortune) - The prospect of a bird flu outbreak may be panicking people around the globe, but it's proving to be very good news for Defense Secretary Donald Rumsfeld and other politically connected investors in Gilead Sciences, the California biotech company that owns the rights to Tamiflu, the influenza remedy that's now the most-sought after drug in the world. Rumsfeld served as Gilead (Research)'s chairman from 1997 until he joined the Bush administration in 2001, and he still holds a Gilead stake valued at between $5 million and $25 million, according to federal financial disclosures filed by Rumsfeld. The forms don't reveal the exact number of shares Rumsfeld owns, but in the past six months fears of a pandemic and the ensuing scramble for Tamiflu have sent Gilead's stock from $35 to $47. That's made the Pentagon chief, already one of the wealthiest members of the Bush cabinet, at least $1 million richer. Rumsfeld isn't the only political heavyweight benefiting from demand for Tamiflu, which is manufactured and marketed by Swiss pharma giant Roche. (Gilead receives a royalty from Roche equaling about 10% of sales.) Former Secretary of State George Shultz, who is on Gilead's board, has sold more than $7 million worth of Gilead since the beginning of 2005. Another board member is the wife of former California Gov. Pete Wilson. "I don't know of any biotech company that's so politically well- connected," says analyst Andrew McDonald of Think Equity Partners in San http://money.cnn.com/2005/10/31/news/newsmakers/fortune_rums feld/ Edited by Rick |
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Tired
V.I.P. Member Joined: January 13 2006 Location: United States Status: Offline Points: 170 |
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I hate to say this, but you gotta consider how convinent it is that
Tamiflu is found to be the only effective anti-viral against BF. I dont
know, it's probably the consipracy theorist in me peaking out to say
HELLO, but it does get you thinking!
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Better to be safe than sorry.... |
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I hate to burst your bubble, but the makers of Tamiflu want you to keep thinking it might work. Latest opinion from experts differ. |
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Tired
V.I.P. Member Joined: January 13 2006 Location: United States Status: Offline Points: 170 |
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And that right there is the reason I have not purchased any! |
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Better to be safe than sorry.... |
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Julie
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My
plan is to go to my HMO w/"the sniffles," get an Rx for Tamiflu
(I just CAN'T be off work!"), fill it but don't take it. My
family will be doing the same. I don't trust the pharmaceutical
companies, but there's just no telling what anti-virals will do until
the H2H mutation arrives.
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Dualis
V.I.P. Member Joined: February 10 2006 Location: United States Status: Offline Points: 104 |
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don't forget that placebos work... if you hype up a drug that won't work, it might work
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