01 November 2005

Echidne: What An Odd Coincidence

Gilead, the wingnut world of Margaret Atwood's The Handmaid's Tale, is also the name of a company which owns the rights to Tamiflu. Tamiflu may be one of the only treatments for any avian flu pandemic; may be, because the virus could mutate into a form that is not amenable to Tamiflu. But right now many people are hoarding the medication, in the hope that they are safe from dying when/if the pandemic strikes. This hoarding causes shortages for those people who get the run-of-the-mill flu this winter.

But it has also raised the value of Gilead stock. Donald Rumsfeld owns lots of this stock:
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.

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