Democrats: Trump Drug Stakes Hit $56.2 Million

A report by Democrats on the congressional Joint Economic Committee says President Donald Trump’s pharmaceutical stock holdings rose from a reported maximum of $1.7 million in 2024 to as much as $56.2 million at the end of 2025, including up to $39.1 million in companies whose drugs benefited from exemptions to Medicare price negotiations. The exemptions were included in the Republican-backed 2025 tax and spending law, which could leave some Medicare patients paying more for certain cancer treatments and other medications. The report also says Trump’s portfolio bought shares in companies benefiting from the exemptions before the law was signed and made a substantial AbbVie purchase afterward. The White House has denied ethics concerns, accusing Democrats of trying to fabricate conflicts of interest; Trump has pledged to lower prescription drug costs.