Albert Burla, CEO of Pfizer, managed to achieve gains of over $ 5.5 million in minutes.
According to Arabiya Net, Burla did not wait for the completion of the necessary experiments so that the vaccine, which his company is developing in cooperation with German Bountech, can obtain the necessary approvals to start manufacturing, in order to reap the fruits from One of the biggest deals expected to sell vaccines.
The CEO of the American pharmaceutical company - which is the closest to the promised vaccine against the Corona virus - planned to sell over $ 5.5 million of Pfizer shares last Monday. That is, on the same day that the company announced without substantial details that the experimental COVID-19 vaccine showed more than 90% effectiveness.
This large dose of hope reflected positively on the global markets, and on the share price of Pfizer in particular, which on that day reached its highest level in more than a year at $ 41.99 . Burla quickly disposed of more than 132,000 shares for $ 41.94 per share, just five cents less than that peak, according to Tuesday's stock deposit registry.
The record shows that these stocks accounted for more than 60% of Burla's holdings of Pfizer stocks. He still owns 78,273 shares directly, in addition to another 3,539 indirectly owned by him, according to what was reported by the New York Post.
records reveal that Burla - who had previously earned more than $ 15 million in total direct compensation from Pfizer last year - was not the only one at the company to He made such a well-timed deal on Monday, Manhattan Headquarters Vice President and Corporate Affairs Director Sally Sussman also sold more than 43,000 shares for $ 1.8 million, according to another filing record.
and Pfizer's announcement on Monday inspired stock markets that thrived in hopes that a vaccine would help the global economy recover from the coronavirus pandemic. The Dow Jones Industrial Average rose 834 points to record its best day since June, while Pfizer shares ended Wednesday 7.7% higher at $ 39.20.
