Donald Rumsfeld makes $5 million on avian flu drug Tamiflu, also recommended for swine flu
Key Excerpts from Article on Website of Independent (one of the UK's leading newspapers)
Posted: November 11th, 2006
The US Defence Secretary has made more than $5m (2.9m) in capital gains from selling shares in the biotechnology firm that discovered and developed Tamiflu, the drug being bought in massive amounts by Governments to treat a possible human pandemic of the disease. More than 60 countries have so far ordered large stocks of the antiviral medication - the only oral medicine believed to be effective against the deadly H5N1 strain of the disease - to try to protect their people. The United Nations estimates that a pandemic could kill 150 million people worldwide. The drug was developed by a Californian biotech company, Gilead Sciences. Mr Rumsfeld was on the board of Gilead from 1988 to 2001, and was its chairman from 1997. He then left to join the Bush administration, but retained a huge shareholding. The 2005 report showed that, in all, he owned shares worth up to $95.9m, from which he got an income of up to $13m. The firm made a loss in 2003, the year before concern about bird flu started. Then revenues from Tamiflu almost quadrupled, to $44.6m, helping put the company well into the black. Sales almost quadrupled again, to $161.6m last year.
Note: If the above link fails, click here. With both the avian flu and swine flu, top drug companies raked in billions of dollars from sales of medications and vaccines, most of which went unused and have now expired. For many more strange coincidences and facts around the avian and swine flu scares, take a look at our summary of eye-opening news articles available here.