Pelosi's Bill Could Benefit Her Husband's Drug Stock

CNS reports:

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 legislation has more than 50 co-sponsors, including some Republicans. However, considering Pelosi's potential interest in the legislation, her sponsorship of the bill is questionable, said Tom Fitton, president of Judicial Watch, a conservative government watchdog group.

"An ethical issue pops up as a result of her investment in Johnson & Johnson," Fitton told Cybercast News Service. "Obviously she should explain whether or not her contributions from Amgen and its executives are influencing her position on the HIV bill in an inappropriate way."

Don't expect this story to be on the front page of the New York Times anytime soon.