Eight years ago on November 8, when he was still a representative, Marshall purchased 1,250 shares of Ionics Life Sciences, a privately held medical research company based in Ireland. Marshall invested $250,000 at $200 per share, according to Irish documentation obtained by Popular Info’s Judd Legum.
Yet in apparent violation of the STOCK Act, Marshall did not disclose his Ionics stock purchase within 45 days. Instead, he reported the transaction on August 28, 2019—some 240 days late, Legum reported. Marshall misrepresented the day that he purchased Ionics stock, signaling on his disclosure form that he invested in the company on October 1, 2018, rather than November 8.
But there were minimal repercussions. And by 2020, the lawmaker’s investment was worth roughly $500,000.
In 2021, shortly after being inaugurated as senator, Marshall joined the Senate HELP Committee, a congressional regulatory body that oversees the FDA. Since then, Marshall has sponsored legislation that could benefit Genzada and, ultimately, his own pockets. That has included bills that would exclude small pharmaceutical companies from pricing their drugs in accordance with federal regulations, and legislative amendments that he’s claimed could benefit emerging cancer drugs, according to Legum.
“The people that struggle to get their drugs approved blow up my office, but then I dig down with the FDA,” Marshall said during a Senate HELP hearing on April 16.
It isn’t the first time that Marshall has utilized the power of his office to benefit his wallet. The American Prospect reported last week that Marshall previously introduced legislation that could benefit Nueterra Capital, a venture capital firm that Marshall’s family has invested in. It remains to be seen if Marshall will continue to do the same for Ionics and Genzada.
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