The revolving door between the FDA and industry surprises few anymore, despite the widely acknowledged potential it has for undermining public trust in government. RenTec The hedge fund, Renaissance Technologies, is one of the biggest and most profitable companies of its kind. Its flagship product, the Medallion Fund, has averaged annual gains of 39% after fees over three decades,8 earning billions for its investors. But what is known is the overall holdings of the company and that the Medallion Fund is far and away the company’s crown jewel. In all 24 of the quarterly reports filed during Hamburg’s tenure at FDA, Renaissance held stock in three major drug companies—Amgen, Novo Nordisk, and AstraZeneca—at an average value of $518m.

Source: New York Times May 08, 2024 23:22 UTC