NIH eases ban on employees owning drug, biotech stock - The Boston Globe
NIH eases ban on employees owning drug, biotech stock - The Boston Globe

NIH eases ban on employees owning drug, biotech stock
By Kevin Freking, Associated Press | August 26, 2005

WASHINGTON -- Officials at the National Institutes of Health said yesterday that rules designed to reduce conflicts of interest at the agency went too far, so they eased a prohibition on owning stock in pharmaceutical and biotechnology companies for thousands of employees.

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Sign up for: Globe Headlines e-mail | Breaking News Alerts Under the new regulation, about 200 senior employees as well as their spouses and minor children will be prohibited from owning more than $15,000 worth of such stock. Any holdings above that amount will have to be sold by Jan. 30.

But an interim rule issued in February would have had a much broader impact.

Under that rule, about 6,000 scientists and other high-ranking employees would have been required to sell their stock holdings in such companies entirely. An additional 12,000 employees would have been required to keep such holdings to a maximum of $15,000 in value.


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