HOUSTON—Billionaire John D. Arnold is spending a chunk of his fortune to campaign against America’s high drug prices. The drug industry is spending a chunk of its fortune to counter him. Mr. Arnold is the biggest single spender on his side of the battle. He made his money placing bets on price swings in the natural-gas market, first as an energy trader at Enron, then at his own hedge fund after Enron’s collapse. Now retired, the 44-year-old Texan with an estimated $3.3 billion in assets is dedicating himself to the topic...

Source: Wall Street Journal October 21, 2018 18:15 UTC