Rep. Tom Price sought in a contentious hearing Wednesday to defend his purchases of medical stocks against Democratic charges of conflicts of interest.
Price told Sen. Patty Murray of Washington, the ranking Democrat on the Health, Education, Labor and Pensions Committee that held the hearing, that he bought Australian biotech Innate Immunotherapeutics shares after talking with Rep. Chris Collins, R-N.Y., about the company. Collins serves as a director of the company. That raises questions about whether that would be a potential violation of the STOCK Act which prohibits lawmakers from benefiting from insider information or ethics rules. However, Price said he did not receive information that was not public.