Trump's Pharmaceutical Stock Holdings Surge Amid Policy Beneficiaries
A new analysis from the congressional Joint Economic Committee reveals that Donald Trump expanded his pharmaceutical stock holdings from $1.7 million to $56.2 million last year, coinciding with federal budget policies that shielded specific high-priced drugs from Medicare price negotiations and directly benefited companies in his personal portfolio.
The report highlights that the president held as much as $39.1 million in shares of companies that secured exemptions under the Trump-GOP budget law signed last summer. Among these is Merck, which appears more than 60 times in the president's 2025 financial disclosure. The company's cancer medication, Keytruda, was temporarily shielded by the budget's provisions, contributing to a 16% rise in company profits that reached $22.5 billion.
Beyond Merck, the committee identified significant stock purchases in Johnson & Johnson, AbbVie, Pfizer, and Amgen. Each firm reportedly gained from carveouts within the same legislative package. Sen. Maggie Hassan (D-NH) described the situation as an intentional effort to prioritize corporate profits over the financial well-being of seniors requiring cancer treatment.
Critics argue these financial ties undermine the administration’s stated goals on drug affordability. Peter Maybarduk of Public Citizen characterized the president's pricing agreements as a mirage, suggesting they are engineered to provide the appearance of action while securing favorable conditions for industry giants. The administration has also engaged in formal agreements with companies like Eli Lilly and Pfizer, raising further questions regarding potential conflicts between policy decisions and the president’s private financial interests.
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