COVID vaccine profits mint 9 new pharma billionaires

COVID vaccine profits mint 9 new pharma billionaires
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 [Ed. – World War II also made some folks pretty rich, but that’s just a result of having had the fortune or foresight to be there when the wheel came round. Same thing in this case.]

Covid-19 vaccines have created at least nine new billionaires after shares in companies producing the shots soared.

Topping the list of new billionaires are Moderna (MRNA) CEO Stéphane Bancel and Ugur Sahin, the CEO of BioNTech (BNTX), which has produced a vaccine with Pfizer (PFE). Both CEOs are now worth around $4 billion, according to an analysis by the People’s Vaccine Alliance, a campaign group that includes Oxfam, UNAIDS, Global Justice Now and Amnesty International.

Senior executives from China’s CanSino Biologics and early investors in Moderna have also become billionaires on paper as shares skyrocketed, partly in expectation of profits earned from Covid vaccines, which also bode well for the companies’ future prospects. The analysis was compiled using data from the Forbes Rich List.

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Moderna’s share price has gained more than 700% since February 2020, while BioNTech has surged 600%.

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