Donald Trump Jr. allegedly stands to reap handsome profits from his dad’s radical overhaul of the way consumers purchase pharmaceutical drugs.
BlinkRx, a company specializing in the online order and delivery of prescription drugs, appointed the younger member of the Trump clan to its board earlier in February, the Wall Street Journal reported Tuesday.
Given its business model, BlinkRx is one of a number of companies set to benefit from the MAGA administration’s mounting push for pharmaceutical manufacturers to begin selling drugs directly to patients, rather than through middlemen otherwise known as “pharmacy benefit managers,” the newspaper adds.
“BlinkRx is one of many companies in the marketplace that provide these kinds of services to manufacturers,” Adam J. Fein, president of Drugs Channels Institute, which studies the industry, told the WSJ. “What is different is Trump’s son is on the board.”
Beyond his board position, Trump Jr. is also a partner with investment group 1789 Capital, which raised an estimated $140 million for BlinkRx last June.
Part of the Trump administration’s overhaul will apparently be facilitated through TrumpRx, a new government website slated for launch sometime early next year, which will funnel patients to direct-sale sites run by companies like BlinkRx.
The WSJ reports that several days before TrumpRx was announced, an employee of the younger Trump’s firm told one drug manufacturer their firm may well take a hand in administering the website on behalf of the Centers for Medicare and Medicaid Services.
It comes ahead of a “Future of Pharmaceuticals” summit, slated for early December at the Four Seasons hotel in Georgetown, between the nation’s top pharmaceutical manufacturers and members of the Trump administration involved in regulatory oversight of the pharmaceutical industry.
The WSJ reports Trump Jr’s firms, BlinkRx and 1789 Capital, will host that summit, which may feature “small group” meetings with top MAGA officials like Treasury Secretary Scott Bessent and Health and Human Services Secretary Robert F. Kennedy Jr. Industry giants like Pfizer, Eli Lilly and Amgen are understood to have been among the companies invited to attend.
The Daily Beast has reached out to the White House and BlinkRx for comment on this story. In a statement to the Wall Street Journal, a Trump spokesperson denied any suggestion that BlinkRx has received favorable treatment from the MAGA administration. “As long as drugmakers deliver cost savings for American patients through TrumpRx, how they do so is irrelevant,” they said. Trump Jr meanwhile described the newspaper’s reporting as an “innuendo smear.”
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