New Filings Reveal How Pfizer Inc. Executives Made Millions Before Bid For AstraZeneca PLC

Pfizer executives made millions by cashing in their shares in the US pharmaceutical firm, just weeks before renewing a £63bn bid for AstraZeneca.

Ian Read, Pfizer's chief executive and public face of the takeover bid, sold $10.6m in shares on 26 February, according to regulatory filings. Frank D'Amelio , chief financial officer, sold $8.9m of stock on the same day. Other Pfizer executives offloading shares included Loretta Cangialosi, the firm's principal accounting officer and controller, who sold $3.1m in shares on 3 March. Mikael Dolsten, the president of research and development, got rid of $2.1m worth on the same day.

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