How Citius Pharmaceuticals stocks soared during Andrew Cuomo’s tenure as governor
New York’s Andrew Cuomo has come under fire for his handling of the opioid crisis, but he also came under fire during his time in office for his support of pharmaceutical companies.
Cuomo’s former campaign manager, James Corney, resigned in August after a story in the New York Post alleged that he had pressured his boss to give Citius a big raise in a bid to protect its business from the crisis.
Corney denied that accusation, and a spokesperson for Cuomo said he was not paid for the story.
The Times reported that Corney received a $10,000 bonus from Citius last year.
But the Times reported the bonus came only after Cuomo had signed a bill to increase prescription drug prices.
In a statement, Cuomo spokesman Eric Barone said that Cuomo signed the bill in June 2016, after the bill was passed by the legislature and then signed by Cuomo.
“The bill he signed on June 19, 2016, increased the annual prescription drug price by $1,000 per month,” Barone told the Times.
“As governor of the state of New York, he signed this bill, not because of any personal bias, but because it is in the best interests of the citizens of New Yorkers to have the most effective, affordable, and effective drugs available.
Cuomo signed this legislation not out of a personal bias against drug companies, but out of the best interest of the people of New Yorks.”
Cuomo has said he would not support a $1.1 billion increase in the state’s prescription drug tax that would have triggered the increase in prices.
He has also said he supported a law that would require drug companies to pay for research and development on new treatments for opioid addiction.
But as governor, Cuomo did not have the authority to override a state law, and he has said the bill that was signed by him did not go far enough.
On Thursday, the New Jersey Attorney General’s office said it was filing a lawsuit against Cuomo’s office over the drug tax bill.
The New York State Attorney General is a Republican appointee who has taken a hard line on drug pricing and drug companies in general.
He took the same position against the opioid bill in December 2016.
A spokesperson for the Attorney General said the AG’s office will not defend the drug bill’s language in court.
A New York Times article from earlier this month quoted former Cuomo administration officials saying the drug industry “had no interest in seeing the state and federal governments enact meaningful laws addressing the crisis.”