Report: Trump Family Trusts Are Invested In Hydroxychloroquine Maker
The Trump family stands to benefit from increased use of hydroxychloroquine, the anti-malarial drug pushed as the potential remedy to Covid-19 by President Trump and his conservative allies, according to Law & Crime.
- President Trump has a small personal financial interest in Sanofi, a French pharmaceutical company that produces Plaquenil, the brand-name version of hydroxychloroquine.
- Trump has three family trusts that each have two line entries describing investments between $1001 and $15000 each in the Dodge & Cox International Stock Fund.
- Law & Crime reported that “Sanofi, the drug manufacturer, is the mutual fund’s largest individual holding,” adding that “the exact size of the fund’s stake in Sanofi ‘at last check was 3.3%.’”
At least two of President Trump’s closest political allies have personal interest in hydroxychloroquine as well.
- Billionaire and Trump campaign donor Ken Fisher runs Fisher Asset Management, one of the largest stakeholders of Sanofi.
- Wilbur Ross, Commerce Secretary and loyal Trump appointee, previously ran the Invesco mutual fund, which is heavily invested in Sanofi.
The FDA acknowledges in a fact sheet the scientific uncertainty regarding the effectiveness of hydroxychloroquine in treating Covid-19. “The precise mechanism by which hydroxychloroquine exhibits activity against [the malaria parasite] is not known,” the FDA fact sheet reads. “Hydroxychloroquine, like chloroquine, is a weak base and may exert its effect by concentrating in the acid vesicle of the parasite and by inhibiting polymerization of heme. It can also inhibit certain enzymes by its interaction with DNA.”
Though the efficacy of hydroxychloroquine for Covid-19 is debatable, the drug could be beneficial for President Trump and his close allies.