Albert Burla, head of US pharmaceutical giant Pfizer, sold $ 5.6 million (€ 4.7 million) worth of shares in the company on the same day the company announced promising results for the coronavirus vaccine.
Documents filed with the U.S. Securities and Exchange Commission (SEC) say Burla sold 132,508 shares on Monday for $ 41.94 each.
The company’s vice president, Sally Susman, has also sold 43,662 shares for about $ 1.8 million.
However, Pfizer explains that the sale of these shares is part of a pre-arranged periodic plan to sell the assets when the shares reach a certain price level.
Pfizer and German company BioNTech said Monday that their jointly developed vaccine against the new coronavir has shown 90% effectiveness against infection in the third phase of research.
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