Pfizer CEO sold shares on the day the vaccine results were announced


Pfizer CEO Albert Burla sold shares of $ 5.6 million in the American pharmaceutical company on the same day it announced promising results for a vaccine against “Covid-19”, according to financial statements.
But the company said that the sale was part of a pre-prepared periodic liquidation plan when the stock reaches a certain price.
According to a disclosure with the US Securities and Exchange Commission, Burla sold 132,508 shares at $ 41.94 per share on Monday, for a total value of $ 5.6 million.
The company’s executive vice president, Sally Sussman, sold 43,662 shares, for a total of $ 1.8 million.
Shares of Pfizer rose more than seven percent after recording an increase of more than 15 percent on Monday when the pharmaceutical company announced that experiments showed that its vaccine, which is being developed in cooperation with the German company Biontech, had proven effective by 90 percent.
The company did not respond to a request from Agence France-Presse to comment on the matter, but a spokesperson told CNN that sales were pre-arranged.
The company said it decided to sell at this price in advance as part of managing its employees’ finances.
The measure is intended to protect executives from insider trading charges. (AFP)


Please enter your comment!
Please enter your name here