The Covid vaccine has made pharmaceutical executives a lot of money. According to a new report, higher-ups at Pfizer, Moderna, and other pharma companies sold $496 million worth of stock when shares of their companies were up due to vaccine news.
This represents a significant increase from 2019 when executives sold just $132 million worth of stock. This is all legal, of course, as long as the trading is disclosed to the Securities and Exchange Commission. Some of the trades were planned before the pandemic but certainly not all. Executives used the stock surge to supplement their own compensation, which is to be expected. But it sure does give one pause about a vaccine that was so profit-driven in its inception.