New York: Coronavirus disaster that created a furor around the world has been turned into an opportunity by the officials of the US pharmaceutical companies. He took a stake in the shares just before the announcement of making the company's vaccine and was sold when the price went up in the market which made a big profit of $ 1 billion within a few days. According to the New York Times, Vazart, a small drug company in southern San Francisco, announced on June 26 that it is working on the Corona vaccine which has been included in the US government's flagship plan, Warp Speed.
Just prior to this disclosure, top executives of the company participated in equity shares. As soon as this information came in the market, the shares of the company started increasing and the value of the equity shares of the top executives has increased by 6 times to cross $ 200 million. The price of one share of Vazart was 30 sets in January, which rose 10 times to $ 3.66 in April. The stakes were not just by Vazart, but by top executives of 11 companies. Most of the companies in this are very small, whose future of profit and loss was not visible. Just before the announcement of getting help from the government and joining the race to make the vaccine, these officials made a profit of about 7.5 thousand crores by buying shares.
Vazart had said that its coronavirus vaccine has been included by the US government in its flagship scheme. The truth is something else. Vazart's vaccine was for trials on monkeys. It neither received aid from the US government nor was it included in the flagship scheme. Despite this, the company's chief executive Andrew Floru made a big profit in June by selling $ 4.3 million in stock for $ 28 million.
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