October 1, 2021
“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.
- “Heroin’s Hidden Ingredient Is a Chemical Made by U.S. Companies,” by Cam Simpson, Michael Smith and Nacha Cattan, August 26, 2020, Bloomberg Businessweek
- “U.S. Chemical Companies Face Few Legal Risks, and the Cartels Bank On It,” by Cam Simpson, December 1, 2020, Bloomberg Businessweek
- “Narcos Are Waging a New Drug War Over a Texas Company’s Basic Chemical,” by Michael Smith and Cam Simpson, October 26, 2020, Bloomberg Businessweek
- “Politics Could Imperil Probe of Narco Access to U.S. Chemicals; Lab Experts Doubt Avantor Jugs Had Significant Legitimate Use,” January 21, 2021, Bloomberg News
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.