Rand Paul missed the deadline to report his wife’s COVID-19 treatment stock purchase by 16 months
Sen. Rand Paul, R-Ky., revealed this week that his wife, Kelley, invested in Gilead Sciences, Inc., a company that makes remdesivir, an antiviral medicine that has been used to treat COVID-19.
Paul’s official declaration of the stock purchase took place nearly 16 months beyond the 45-day limit set by the Stop Trading on Congressional Knowledge, or STOCK, Act, which is a federal statute.
Kelley Paul reportedly invested between $1,001 and $15,000 in Gilead Sciences on February 26, 2020, according to Senate documents.
Although the World Health Organization recommended against using remdesivir for hospitalized COVID-19 patients in fall 2020 because “there is currently no evidence that remdesivir improves survival and other outcomes in these patients,” Gilead Sciences’ remdesivir received FDA approval to treat COVID-19.
Paul’s spokesperson, Kelsey Cooper, said in a statement that the Kentucky Republican senator filled out a form last year to record his wife’s stock purchase, but that paperwork was never sent.
Cooper’s report, which he filed on Wednesday, was triggered by that discovery, he added. Kelley Paul, she added, lost money on the Gilead Sciences stock she purchased. (According to publicly available statistics, Gilead shares were worth $74.70 at closing of trade the day she bought them and were worth $69.84 on Wednesday.)
Cooper stated, “Last year, Dr. Paul submitted the reporting form for an investment made by his wife using her own earnings, an investment in which she lost money.” “This was completed within the reporting timeframe.
“While preparing to file his yearly financial declaration for the previous year, he discovered that the paperwork had not been transmitted and immediately notified the filing office, requesting their assistance,” she stated. “He filed both reports today in compliance with that guidance.”
Cooper added: “Dr. Paul attended no private, public or classified briefings on COVID.”
During the pandemic, Paul has frequently dismissed public health professionals’ suggestions that individuals use masks to prevent the spread of the coronavirus, as well as other COVID-19 mitigation efforts.
Even as COVID-19 instances and hospitalizations spike in his own state owing to the delta version, he called for people to “reject” government strategies for fighting the virus in a new video released this week.
Despite lots of proof that masks work and overwhelming acceptance among medical and public health specialists that they are a beneficial tool in slowing the virus’ spread, he urged people to disregard the Centers for Disease Control and Prevention’s masking advice.
Paul’s admission this week regarding his wife’s stake isn’t the first time a senator’s stock market maneuvers during the pandemic have been questioned.
Sens. Richard Burr, Jim Inhofe, Kelly Loeffler, and Dianne Feinstein raised concerns early last year when filings revealed they sold a large number of equities right before the pandemic erupted in the United States.