FDA Policy/General

Makary To Divest Extensive Holdings: Ethics Report

In a 2/24 ethics letter submitted to the HHS associate general counsel for ethics, FDA commissioner nominee Martin Makary says he will resign his position at Johns Hopkins University upon his confirmation as commissioner and will divest his many equity and non-equity holdings. The letter says that when he resigns from Hopkins, he will be granted professor emeritus status, which carries no benefits, privileges, or obligations. For a year after his resignation, he will not participate personally and substantially in any matter involving specific parties in which he knows Hopkins is a party or represents a party.

Makary writes that he is the sole director, managing member, and principal of Ladner-Drysdale, which was used only as a pass-through entity for funds received for honoraria, royalties, and other income. The company will remain dormant and will not advertise while he is commissioner, he says, but he will continue to receive advances and royalties through it.

He notes that he receives royalties and has an outstanding advance from Bloomsbury Publishing for one of his books and receives royalties from the same publisher for a second book.

The letter lists 12/2024 resignations with no equity from H-E-B and Paragon Health Institute and says he has terminated his position as a Fox News contributor.

Listed as positions with entities in which equity is held are Global Appropriateness Measures, Harrow, Inc., Avalon AI, Advocate, Inc., Sesame, Inc., Sidecar Health, Inc., Turquoise Health Company, and MedRegen. Other divestitures are shown as Amaze, PBC; Baldwin Insurance Group; Carnival Corp.; Kyrus, Inc.; Lindblad Expeditions Holdings; Memory Well; MicroStrategy; Oddity Tech Limited; Paycom Software; RxSight; and S2 Bryans Road Associates.

Makary says he will retain his position as principal, director, and manager of Green Monument Living, a real estate holding company that currently retains only his personal residence.

The form says his spouse is the sole proprietor of Greenwood Health Consulting and ceased providing services as of 11/2024.

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