Coronavirus: Trump denies investing in hydroxychloroquine as FDA proceeds with trials

The efficacy of the anti-malarial drug and its safety in Covid-19 cases remain highly disputed

President Donald Trump has denied having any investments in the anti-malaria drug hydroxychloroquine, which he has consistently presented as reliable treatment for Covid-19.

Asked as he was leaving his latest coronavirus briefing whether he has any financial interest in the drug, the president replied: “No I don’t. Good question.”

A less toxic derivative of chloroquine, the drug has yet to be fully approved by the FDA for use with Covid-19 patients, although its use has been permitted under a so-called “emergency use authorisation”.

However, even that clearance has proved controversial, with reported shortages of the drug affecting patients with conditions like lupus who take the drug on a regular, approved basis.

As recently as late March, some doctors and drug experts were vigorously rejecting Mr Trump’s persistent enthusiasm for both chloroquine and hydroxychloroqine, some calling it “insane” and “egregious”.

At the same briefing where Mr Trump denied having a stake in its production and sale, vice president Mike Pence and top doctor Anthony Fauci explained that the drug is being trialled along with other medications to see if it can be approved as a Covid-19 treatment.

“There are a number of different clinical trials,” Dr Fauci said, emphasising that trialling a drug is “the optimal way to determine ultimately if something is safe and effective and works.”

Speaking to Fox News’s Sean Hannity the same day he denied profiting from the drug, Mr Trump talked up his own efforts to provide hydroxychloroquine to people in the US: “By the way, the hydroxychloroquine, we have millions of doses that I bought. I bought millions of doses. You know, for the country.”

Mr Trump also praised the prime minister of India, Narendra Modi, for selling him the drug. “I bought millions of doses of it. More than 29m. I spoke to prime minister Modi, a lot of it comes out of India. I asked him if he would release it? He was great. He was really good.”

However, just days before, Mr Trump said at another briefing that the US would “retaliate” if India did not agree to release its stocks for sale.