The president has repeatedly touted the anti-malaria drug as a coronavirus treatment despite a lack of medical evidence.
President Donald Trump reportedly owns a stake in a company that produces hydroxychloroquine, the anti-malaria drug he has repeatedly touted as a coronavirus treatment even though his experts say there’s no strong evidence it works.
Trump “has a small personal financial interest” in Sanofi, the French drugmaker that makes Plaquenil, the brand-name version of hydroxychloroquine, The New York Times reported Monday.
Trump’s “assertiveness” in promoting the drug contrary to the recommendation of top health experts “has raised questions about his motives,” the Times noted.
The financial news site MarketWatch and The Washington Post later estimated Trump’s stake to be worth between about $100 and $1,500, though the Post noted his trusts may have amassed other investments since his most recent disclosure.
In the face of warnings from top infectious disease expert Dr. Anthony Fauci that the drug’s safety and effectiveness are uncertain in treating COVID-19, Trump has continued to laud its supposed benefits.
“What do you have to lose?” he asked at a press briefing this week urging those sick with the virus to take the drug.
Turns out plenty.
“There could be deaths,” American Medical Association President Dr. Patrice Harris said. “This is a new virus, and so we should not be promoting any medication or drug for any disease that has not been proven and approved by the FDA.”
Generic drugmakers also are gearing up to produce hydroxychloroquine pills. One of those companies was co-founded by Trump golfing buddy Chirag Patel, according to the Times.