Thursday, October 27, 2005

Former FDA chief Lester Crawford held biotech stocks

Following on our earlier coverage of Lester Crawford's sudden resignation from FDA, Reuters reported yesterday that the former administrator or his wife had owned stock in companies regulated by his agency. Reuters cited a Wall Street Journal article that we cannot find free online, so we quote the Reuters report:

An ethics official sought more information on the June disclosures and noted on the form that Crawford's broker would be sending more information, the report said.

Unlike prior disclosures, the June form lacks an ethics official's signature. A signature would indicated that the information complied with laws and regulations, the paper reported.

It is not known whether ethics officials viewed the holdings as a conflict of interest or whether these transactions were a cause of Crawford's decision to leave the agency.

Both the Department of Health and Human Services, which oversees the FDA, and Crawford declined to comment, the paper said.

And in other surprising news ....

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