Rand Paul discloses, 16 months later, wife's purchase of stock in company behind COVID-19 treatment
Sixteen months late, Sen. Rand Paul (R-Ky.) on Wednesday filed a disclosure with the Senate revealing that on Feb. 26, 2020, his wife, Kelley, purchased stock in Gilead Sciences, a company that produces an antiviral drug used to treat COVID-19.
Under the STOCK Act, which prohibits members of Congress from using information not available to the public for private profit, the disclosure should have been filed within 45 days of the purchase, The Washington Post reports.
The World Health Organization declared COVID-19 a pandemic on March 11, 2020. That spring, the Justice Department launched investigations into several senators who sold stock shortly before the pandemic declaration, which upended the financial industry and caused markets to crash worldwide. Gilead makes remdesivir, an antiviral developed to treat hepatitis C that was also tested for use against infectious diseases. It was administered as part of former President Donald Trump's treatment last October when he was hospitalized for COVID-19.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The stock purchase and late filing raise questions about whether Paul and his family used information given to lawmakers about the coronavirus and the government's plans to fight it so they could make a profit, Prof. James D. Cox of Duke University told the Post. "The senator ought to have an explanation for the trade and, more importantly, why it took him almost a year and a half to discover it from his wife," he said.
Paul's spokeswoman, Kelsey Cooper, told the Post that the senator did not attend any confidential briefings about COVID-19, and after Kelley Paul's stock purchase, he filled out the proper reporting form. Paul just recently found out that the form was never transmitted, Cooper said, and after conferring with the Senate Ethics Committee, he filed the supplemental report and an annual disclosure on Wednesday. Kelley Paul made the stock purchase two days after a top WHO official said remdesivir "may have real efficacy" in treating COVID-19. According to Cooper, the purchase was between $1,000 and $15,000, and Kelley Paul ended up losing money.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
Why scientists are attempting nuclear fusionThe Explainer Harnessing the reaction that powers the stars could offer a potentially unlimited source of carbon-free energy, and the race is hotting up
-
Sudoku medium: October 27, 2025The Week's daily medium sudoku puzzle
-
Crossword: October 27, 2025The Week's daily crossword
-
NY attorney general asks public for ICE raid footageSpeed Read Rep. Dan Goldman claims ICE wrongly detained four US citizens in the Canal Street raid and held them for a whole day without charges
-
Trump’s huge ballroom to replace razed East WingSpeed Read The White House’s east wing is being torn down amid ballroom construction
-
Trump expands boat strikes to Pacific, killing 5 moreSpeed Read The US military destroyed two more alleged drug smuggling boats in international waters
-
Trump demands millions from his administrationSpeed Read The president has requested $230 million in compensation from the Justice Department for previous federal investigations
-
Trump nominee in limbo after racist texts leakSpeed Read Paul Ingrassia lost Republican support following the exposure of past racist text messages
-
Trump begins East Wing demolition for ballroomspeed read The president’s new construction will cost $250 million
-
Appeals court clears Trump’s Portland troop deploymentSpeed Read A divided federal appeals court ruled that President Trump can send the National Guard to Portland
-
Millions turn out for anti-Trump ‘No Kings’ ralliesSpeed Read An estimated 7 million people participated, 2 million more than at the first ‘No Kings’ protest in June
