Skip to main content
Premium Trial:

Request an Annual Quote

Finances, Finances

Alex Azar, the new nominee to be secretary of the US Department of Health and Human Services, made millions of dollars while a pharmaceutical executive, according to the Associated Press.

President Donald Trump announced his nomination of Azar last week on Twitter, saying that Azar would "be a star for better healthcare and lower drug prices."

The AP reports that financial disclosures indicate that Azar, who was an executive at Eli Lilly from 2007 until earlier this year, amassed a financial portfolio worth between $9.5 million and $20.6 million. It adds that he was paid nearly $2 million during his last year at Eli Lilly. He then opened his own healthcare consulting firm.

The AP also notes that Azar oversaw Eli Lilly's lobbying activities, including when the Justice Department was investigating the company for improperly marketing a schizophrenia drug; the company eventually settled the case.

According to the paperwork filed, Azar sold $3.4 million in Eli Lilly stock and no longer holds any stock in the company, the AP adds.

If confirmed, Azar would replace Tom Price, who stepped down from the position after claims that he spent hundreds of thousands of dollars of taxpayer money on private planes.