Executives in charge of biotech and pharmaceutical companies working on coronavirus treatments and vaccines have raked in more than $US1 billion by selling stock, Business Insider has found.
Shares of the companies they helm have soared this year, fuelled by investors eager to reap a windfall from combating the pandemic. The executives and board members have benefited from the market’s enthusiasm by selling stock and exercising options.
The executive-compensation firm Equilar analysed hundreds of stock sales through the first nine months of 2020 for Business Insider. We identified 20 biotechs that have seen their share prices climb significantly this year and have been prominently involved in COVID-19 research, including Moderna, Regeneron, and Vir Biotechnology. Fourteen of the 20 companies had insiders who reported selling stock this year.
At the top of the list are the leaders of Regeneron: Chief Scientific Officer George Yancopoulos, Chairman Roy Vagelos, and CEO Leonard Schleifer, who have respectively sold $US105 million, $US105 million, and $US86 million in stock this year.
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Biotech execs hunting for COVID-19 vaccines and treatments have raked in more than $US1 billion by selling company stock this year. Here are the 27 leaders who’ve cashed in the most.
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