Pfizer CEO Profits After COVID Vaccine Announcement

Eyebrows raised when Pfizer CEO sold some of his holdings in the company to the tune of $5.6 million. The prescheduled sale came at the perfect time, when the company publicly announced promising results from early COVID vaccine trials. CNBC reports that Bourla’s base salary was $1.65 million in April. After his most recent sale of shares, he still owns nine times his salary in shares, approximately $15 million.

MarketScale Radio hosts Daniel Litwin and Tyler Kern dissect the news. Litwin considers the serendipity of the sale timed with the public announcement. Kern and Litwin consider the thought of one person profiting tremendously off of a public good like a life-saving vaccine, and in the end, Kern points out, any one takeaway depends on how one feels about capitalism’s economic structures and incentives.

KEY POINTS:

  • Pfizer CEO Albert Bourla sells $5.6 million worth of stock just as it jumps 15%.
  • The sale was pre-scheduled, but opportunely timed with the public announcement of a promising vaccine.
  • Other medical executives at Moderna also are cashing in on spiking stocks while vaccines inch toward approval.

For the latest news, videos, and podcasts in the Healthcare Industry, be sure to subscribe to our industry publication.

Follow us on social media for the latest updates in B2B!

Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Latest

NAB Pulls the Plug on This Year’s Show, Attendees Have Mixed Reactions
September 17, 2021
The Pro AV world was taken by surprise with the cancellation of NAB this October with concerns around COVID's persistent waves and the financial viability of still holding the show. The organization did make sure Read more
What is Pushing Modular Buildings Practices Through the Roof?
September 17, 2021
 Modular construction has grown tremendously in the past few years, leading many to believe it's a new innovation in the building industry. In reality, it has been around for quite awhile, but has Read more
The Experience Evolution: Prep the Halls—2021 Holiday Shopping Trends and Tips
September 17, 2021
   Did the pandemic rewrite the rules for the holiday shopping season? Is there even a rulebook anymore? As consumers look to engage with their favorite brands across all channels this upcoming Read more