Pay To Play? McCaughey Received $11K In BioTech Stock Days Before Penning Health Scare Op-Ed (UPDATED)

Posted on  

"Pay To Play? McCaughey Received $11K In BioTech Stock Days Before Penning Health Scare Op-Ed (UPDATED)"

Ideology may not be the only factor driving Betsy McCaughey’s propaganda campaign against two health care provisions in the stimulus bill.

As Health Care Renewal points out, “not noted in Betsy McCaughey’s op-ed article was that she is currently on the board of directors of Cantel Medical, a device company, and formerly on the board of Genta, a biotechnology company.”

In fact, according to a Statement of Changes in Beneficial Ownership Securities from the Securities and Exchange Commission, McCaughey received 750 Shares of stock options just days before writing the Bloomberg op-ed. Then, the total worth of the shares was approximately $11,250:

betsyform2.JPG

Should she have disclosed this information to her readers? Well, as Health Care Renewal explains, up to now “we have left industry to fund, control, and too often suppress and manipulate clinical research about its own products, so that the results are better at putting particular products in a good light.” Should independent research dispute the effectiveness of a Cantel Medical product, McCaughey and Cantel could face serious financial loses.

Update
Share

According to SEC filings, McCaughey has received over $55,000 in compensation from Cantel Medical, Inc. in the fiscal year ending 7/31/08.

« »

By clicking and submitting a comment I acknowledge the ThinkProgress Privacy Policy and agree to the ThinkProgress Terms of Use. I understand that my comments are also being governed by Facebook, Yahoo, AOL, or Hotmail’s Terms of Use and Privacy Policies as applicable, which can be found here.