CEO of pharma giant Pfizer, Albert Bourla, sold on Monday company stocks worth more than $5.5 million, US media reported Wednesday.
The move was carried out on the same day the firm announced that, according to early data from its mass clinical trial, its developed COVID-19 vaccine is 90 percent effective.
“Today is a great day for science and humanity. The first set of results from our Phase 3 COVID-19 vaccine trial provides the initial evidence of our vaccine’s ability to prevent COVID-19,” Dr Albert Bourla, Pfizer chairman and CEO, said.
The company’s shares soared following the announcement, after which Bourla sold his shares of the company.
According to CNN Business, the sale took place “because Pfizer shares hit a predetermined price as part of a plan authorized by Bourla on August 19,” a Pfizer spokeswoman said.
Read more at i24NEWS.
{Matzav.com}
That’s how Big Pharma manipulates the market. Announce good news about the vaccine, sell off your shares and make millions. It’s all sheker!
If you understood anything about the insider trading laws you would know that there is nothing wrong with what Bourla did. He waited until the announcement was made and made a profit. That is what capitalism is supposed to be about.
Paul Pelosi is a crook. He should be thrown in prison immediately. His illegal insider trading has gotten out of hand.
Not even news worthy. Nothing wrong with what he did.