Trump administration will have financial ties to biotechs

The second Trump administration will start with unusual financial ties to the biopharmaceutical industry, including a closely affiliated political action campaign’s ownership of stock in Roivant and advisory positions held by individuals with ownership stakes in FDA-regulated companies.

A Federal Election Commission document released after the election discloses that, on Oct. 21, Cantor Fitzgerald CEO Howard Lutnick donated stock in Roivant Sciences Ltd. (NASDAQ:ROIV) valued at $3 million to the Make America Great Again Inc. political action committee (PAC). It is unusual for individuals to donate stock to a PAC. ...