Bloomberg News Wins 2021 Gerald Loeb Award in Investigative Category

“Addicted to Profit” series investigating the relationship between U.S. chemical companies and drug cartels ties for the honor

NEW YORK (October 1, 2021)— Bloomberg News won the Gerald Loeb Award for Distinguished Business and Financial Journalism in the investigative category for the “Addicted to Profit” series by Cam Simpson, Michael Smith, and Nacha Cattan.

The Financial Times was also honored in the investigative category for “Inside Wirecard.”

Bloomberg’s series exposed how narcotics syndicates have tapped leading U.S. companies for chemicals they use to make heroin, meth and cocaine bound for America’s streets. Simpson, Smith, and Cattan’s reporting led to official investigations and forced two of the main companies involved to pull chemicals from the Latin American market that cartels need to make heroin and cocaine.

Read the stories in the series here:
Video from Bloomberg Quicktake’s “Storylines”:

The Gerald Loeb Awards, presented by UCLA Anderson School of Management, are considered the highest honor in business journalism. The 2021 awards were announced during a live virtual ceremony on Thursday evening.

See the full list of winners here.

Bloomberg was a Loeb finalist for “Blood River” in the audio category; Bloomberg Businessweek’s “Cruising for Catastrophe” in the feature category; and Bloomberg Green’s “Climate Scoreboard” in the visual storytelling category.