Tom Kean Jr. Cosponsored a Bill That Delays Medicare Price Cuts on Cancer Drugs. He Owns Stock in the Companies That Make Them.
Tom Kean Jr. cosponsored the ORPHAN Cures Act, which rode into Trump's budget bill and pushed back Medicare's power to negotiate prices on blockbuster cancer drugs. The Congressional Budget Office says it handed a multibillion-dollar windfall to drugmakers including Merck and Johnson & Johnson — two companies whose stock sits in Kean's own portfolio.