UK Chief Scientific Adviser Sir Patrick Vallance reportedly holds a bonus of tens of thousands of shares in a pharma giant developing a Covid-19 vaccine for the government.
Yet, London says there is no conflict of interest.
Vallance, who also chairs the government’s expert advisory panel on vaccines, appears to have retained over 43,000 shares in GlaxoSmithKline (GSK) – a UK-based multinational pharmaceutical company – worth £600,000, The Telegraph reported.
The shareholding appears to be the legacy of his previous job as the head of research and development at the very same company. Over his tenure from 2012 to 2018, Vallance accumulated a total of 404,201 GSK shares worth a whopping £6.1 million in his hands, according to the British media.
However, he sold more than £5 million worth of shares after being appointed to the government. GSK, meanwhile, has entered the global race to provide the world with a vaccine against coronavirus – alongside some 20 other drug manufacturers and research centers. The endeavor might prove quite lucrative, should the company succeed.