Sen. Warren Calls on Dr. Oz to Cut Industry Ties

Ahead of Mehmet Oz’s confirmation hearing before the Senate Finance Committee on Friday, March 14, Democratic U.S. Senator Elizabeth Warren said on Wednesday that the nominee should divest financial ties to healthcare and pharmaceutical companies that could benefit from his policy decisions

Mehmet Oz, M.D., is President Trump’s pick for the Centers for Medicare and Medicaid Services (CMS) administrator.

Reuter’s Ahmed Aboulenein reported on March 12 that “Warren called on Oz to divest from his financial holdings related to industries regulated by the agency and commit to strong ethics safeguards.”

"[G]iven your close ties to the industry that you would regulate, if you are confirmed, the public would have reason to question your impartiality and commitment to serving the public’s interest," Warren wrote in a letter addressed to Dr. Oz, seen by Reuters.

Oz owns healthcare stocks in UnitedHealth Group and drugmakers Abbvie and Eli Lilly, which manufacture drugs for which his agency negotiates prices. Additionally, he owns stocks and is an advisor to several companies selling nutritional supplements and medical equipment, Aboulenein reported. Oz has offered to divest much of that and resign his advisory posts, Warren noted in the letter.

Meanwhile, NBC News reported having obtained a memo from Democratic staff on the Senate Finance Committee that stated Dr. Oz may have “significantly” underpaid Medicare and Social Security taxes in recent years.

“Senate Democrats had previously raised concerns about Oz’s ability to lead the agency, mainly surrounding his advocacy to put all Americans into Medicare Advantage, which would effectively replace the traditional Medicare program in which the government directly insures Americans 65 and older in tandem with private insurance plans,” Kate Santaliz reported on March 13.