Rumsfeld's growing stake in Tamiflu

Defense Secretary, ex-chairman of flu treatment rights holder, sees portfolio value growing.
October 31, 2005: 10:55 AM EST
By Nelson D. Schwartz, Fortune senior writer

NEW YORK (Fortune) - The prospect of a bird flu outbreak may be panicking people around the globe, but it's proving to be very good news for Defense Secretary Donald Rumsfeld and other politically connected investors in Gilead Sciences, the California biotech company that owns the rights to Tamiflu, the influenza remedy that's now the most-sought after drug in the world.

Rumsfeld served as Gilead (Research)'s chairman from 1997 until he joined the Bush administration in 2001, and he still holds a Gilead stake valued at between $5 million and $25 million, according to federal financial disclosures filed by Rumsfeld.

Report: Tamiflu is 'useless' for avian flu

LONDON, Dec. 3 (UPI) -- A Vietnamese doctor with experience in treating avian flu says Tamiflu, the drug being stockpiled for treatment of avian flue is useless against the virus.

Dr. Nguyen Tuong Van of the Centre for Tropical Diseases in Hanoi has treated 41 victims of H5N1, following World Health Organization guidelines and administering Tamiflu to her patients. She told the Sunday Times of London the medicine had no effect.

"We place no importance on using this drug on our patients," she said. "Tamiflu is really only meant for treating ordinary type A flu. It was not designed to combat H5N1."