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Source: COVID-19 Scams  Nov 16, 2020  20 days ago
COVID-19 Scams: Why Did Pfizer CEO Sell His Shares Worth US$5.6 Million On The Day He Announced The COVID-19 Vaccine Was 90 Percent Effective???
COVID-19 Scams: Why Did Pfizer CEO Sell His Shares Worth US$5.6 Million On The Day He Announced The COVID-19 Vaccine Was 90 Percent Effective???
Source: COVID-19 Scams  Nov 16, 2020  20 days ago
a current level of US$90 thanks to all the paid PR and media that was bought. The CEO of Novavax, for his part, sold $4.2 million in shares on August 18, just over a month after the announcement it would receive public financing of $1.6 billion. A nonpartisan taxpayers' advocacy group, ‘Accountable US’, has calculated that from the start of the federally coordinated effort to develop vaccines on May 15 until August 31, officials at five pharmaceutical companies made more than $145 million by selling shares. Senior executives at Pfizer and Moderna were operating under a rule put in place by the Securities and Exchange Commission in 2000 to allow company employees to sell shares without facing insider-trading charges. This rule allows them to set up a plan determining the trades of their shares at a price, amount or dates specified in advance, but only when they are not in possession of privileged information that could affect share prices. The moment once such a sale is planned, it cannot be modified at the last minute, even if its timing might ultimately raise questions. However this use of the rule by Pfizer and Moderna still appears "legally questionable," according to Daniel Taylor, an associate professor at the University of Pennsylvania's Wharton business school, who has been studying the big pharma firms since the beginning of the pandemic. He said, "The question is, what did the executives know at the time that they pre-scheduled the trade?" Albert Bourla, according to Pfizer, had merely re-authorized on August 19 a plan for a share sale originally authorized in February, "with the same price and volume terms." However a day after that, the company issued a statement describing the preliminary results of its clinical trials as "positive." Taylor said that it is of course not just normal but desirable that laboratory heads should be encouraged to develop a safe and reliable vaccine as quickly as possible. However "when they are going to sell their shares, they have to make sure that they are operating by the same level playing field, that they're not taking advantage of other investors by having more information," he said. Taylor also added a word of caution: "I don't think that companies have internalized the reputational risk to these trades" by selling shares even as COVID-19 cases have been spiraling upward around the world. Sanjai Bhagat, a professor at the University of Colorado-Boulder who specializes in corporate governance says that top executives should simply not be allowed to sell company shares until a year or two after they leave the company. He said, "If they have a lot of vested stock and stock options, then they have an incentive to get the share price as high as they can, even by not being totally honest with the investing public.” He believes corporate boards should eliminate any chance of temptation. He said, "Not having done anything illegal is not the standard by which they should be judged. Especially in these times, people are expecting them to act responsibly." The SEC which is controlled by the corrupted Trump administration would not say whether it was investigating any of the lab executives. However in an interview in May on the CNBC network, SEC chairman Jay Clayton exhorted executives to respect best practices. He asked, "Why would you want to even raise the question that you were doing something that was inappropriate?" For now the question still remains, why did the CEO of Pfizer sell his shares on the day that he made an announcement that their COVID-19 vaccines was 90 percent effective????? For more COVID-19 Scams perpetrated by American and European governments, pharmaceutical and biotech companies, American media and social media platforms, medical journals and researchers, keep on logging to Thailand Medical News. Note: Thailand Medical News is not against vaccines as we have always been supporting vaccine programmes. However in the case of the COVID-19 vaccines, we are extremely suspicious of numerous things including the lack of transparency, the short time frame that the vaccines are being developed and tested without even carefully considering the emerging mutations and variants, and worse as the Trump administration and Dr Anthony Fauci from the NIH are involved, we are extremely skeptical especially after seeing the remdesivir saga and also the convalescent plasma saga.">COVID-19 Scams: While the majority of the stupid people are still placing their hopes in COVID-19 vaccines with more ‘bribed’ Western journalists and media still extolling merits on these vaccines, various pharmaceutical and biotech executives from companies like Pfizer, Moderna, Novavax are quickly cashing out on their shares while the going is good.


 
We even have some media including a wire news agency  now stating that people should not reject these vaccines despite lack of transparency, ‘half- baked’ clinical data and approval procedures that smells of massive corruption.
 
Already even reputable medical journals are now questioning the way that the vaccine trials have been structured.https://www.thailandmedical.news/news/breaking-covid-19-scams-british-medical-journal-says-current-covid-19-vaccine-clinical-trials-cannot-tell-us-if-these-vaccines-will-save-lives
 
We even have one despicable female British journalists who despite being a mother of two and has always been writing for various health and medical columns although not having any relevant medical or science qualifications, recently wrote for a wire agency saying that there too much misinformation in the net (we do agree, but some not all are justifiable in the questions they ask) and insist that people should not miss out on the COVID-19 vaccine by Pzifer! (Not sure how much she was paid!). The fact remains, there was no peer reviewed published data by Pzifer when they made their announcement…..most people are not  gullible to start accepting such blind statements! Not everyone in Britain and America is stupid to simply accept the vaccines without being properly assured of its safety to question its possible adverse effects especially long term complications. https://www.thailandmedical.news/news/covid-19-vaccine-more-american-scams-pfizer-announces-preliminary-results-that-suggested-their-vaccine-was-more-than-90-percent-effective
 
With mounting evidence that antibodies only remain for a short while to offer protection ie anything from 2 to 6 months coupled with the fact that there are so many new mutated SARS-CoV-2 strains emerging, more and more people are becoming skeptical about the effectiveness and safety of these COVID-19 vaccines.

But one thing that is puzzling is that if the claims made by these pharmaceutical and bioetch companies that these COVID-19 vaccines are going to be so effective etc, why are the senior executives selling off their shares now? Why not hold on till a year by the time we can see how truly effective these vaccines are plus the price of these shares and stocks will be worth much more unless there is something that  these executives are not telling us or if it all just another scam!
 
The senior executives at several American laboratories developing COVID-19 vaccines have recently pocketed millions of dollars by selling shares in their companies raising questions about the propriety of such a move in the midst of a national health crisis.
 
Interestingly on the very day that pharmaceutical giant Pfizer announced preliminary data showing its vaccine was 90 percent effective against the coronavirus, its chief executive officer Albert Bourla sold shares worth US$5.6 million.
 
When confronted, Pfizer said that there was nothing illegal about this, the sale took place according to rules allowing company heads to sell shares under predetermined criteria, at a date or for a price set in advance, to avoid any suspicion of insider training.
 
Also under the same rules, several Moderna officials have sold shares worth more than US$120 million in recent months.
 
It should be noted that company has not placed a single product on the market since its creation in 2010, but the federal government has committed to paying it up to US$2.5 billion if its vaccine proves effective. (it never even had any prior experience in vaccines or biotech!)
 
Hmm…Moderna shares have soared from US$19 at the beginning of the year to a current level of US$90 thanks to all the paid PR and media that was bought.
 
The CEO of Novavax, for his part, sold $4.2 million in shares on August 18, just over a month after the announcement it would receive public financing of $1.6 billion.
 
A nonpartisan taxpayers' advocacy group, ‘Accountable US’, has calculated that from the start of the federally coordinated effort to develop vaccines on May 15 until August 31, officials at five pharmaceutical companies made more than $145 million by selling shares.
 
Senior executives at Pfizer and Moderna were operating under a rule put in place by the Securities and Exchange Commission in 2000 to allow company employees to sell shares without facing insider-trading charges.
 
This rule allows them to set up a plan determining the trades of their shares at a price, amount or dates specified in advance, but only when they are not in possession of privileged information that could affect share prices.
 
The moment once such a sale is planned, it cannot be modified at the last minute, even if its timing might ultimately raise questions.
 
However this use of the rule by Pfizer and Moderna still appears "legally questionable," according to Daniel Taylor, an associate professor at the University of Pennsylvania's Wharton business school, who has been studying the big pharma firms since the beginning of the pandemic.
 
He said, "The question is, what did the executives know at the time that they pre-scheduled the trade?"
 
Albert Bourla, according to Pfizer, had merely re-authorized on August 19 a plan for a share sale originally authorized in February, "with the same price and volume terms."
 
However a day after that, the company issued a statement describing the preliminary results of its clinical trials as "positive."
 
Taylor said that it is of course not just normal but desirable that laboratory heads should be encouraged to develop a safe and reliable vaccine as quickly as possible.
 
However "when they are going to sell their shares, they have to make sure that they are operating by the same level playing field, that they're not taking advantage of other investors by having more information," he said.
 
Taylor also added a word of caution: "I don't think that companies have internalized the reputational risk to these trades" by selling shares even as COVID-19 cases have been spiraling upward around the world.
 
Sanjai Bhagat, a professor at the University of Colorado-Boulder who specializes in corporate governance says that top executives should simply not be allowed to sell company shares until a year or two after they leave the company.
 
He said, "If they have a lot of vested stock and stock options, then they have an incentive to get the share price as high as they can, even by not being totally honest with the investing public.”
 
He believes corporate boards should eliminate any chance of temptation.
 
He said, "Not having done anything illegal is not the standard by which they should be judged. Especially in these times, people are expecting them to act responsibly."
 
The SEC which is controlled by the corrupted Trump administration would not say whether it was investigating any of the lab executives.
 
However in an interview in May on the CNBC network, SEC chairman Jay Clayton exhorted executives to respect best practices.
 
He asked, "Why would you want to even raise the question that you were doing something that was inappropriate?"
 
For now the question still remains, why did the CEO of Pfizer sell his shares on the day that he made an announcement that their COVID-19 vaccines was 90 percent effective?????
 
For more COVID-19 Scams perpetrated by American and European governments, pharmaceutical and biotech companies, American media and social media platforms, medical journals and researchers, keep on logging to Thailand Medical News.
 
Note: Thailand Medical News is not against vaccines as we have always been supporting vaccine programmes. However in the case of the COVID-19 vaccines, we are extremely suspicious of numerous things including the lack of transparency, the short time frame that the vaccines are being developed and tested without even carefully considering the emerging mutations and variants, and worse as the Trump administration and Dr Anthony Fauci from the NIH are involved, we are extremely skeptical especially after seeing the remdesivir saga and also the convalescent plasma saga.
 

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