Monday, November 07, 2005

word on the street

so apparently donald rumsfeld owns significant portions of stock in Gilead, the company that manufactures the avian flu drug...

more info:

Rumsfeld to profit from Avian Flu Vaccine:

"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." (Nelson Schwartz, Fortune Magazine /


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