Sir Patrick Vallance has a £600,000 shareholding in a pharmaceuticals giant which is racing to develop a Covid vaccine for the Government, a report has revealed.
The Chief Scientific Adviser holds the deferred bonus of 43,111 shares in GlaxoSmithKline (GSK) from his time as president of the multinational company. Sir Patrick has already sold more than £5 million in shares he received during his tenure from 2012 to 2018, when he was appointed by the Government.
Sir Patrick, who also chairs the Government’s expert panel on vaccines, predicted at a news conference this week that the first effective doses of a jab might become available on a limited basis by the end of this year.
GSK is one of more than 20 drugs companies around the world in the race to provide the cure for coronavirus – an achievement which would be colossally lucrative. Sir Patrick’s former employer has deals with the British and US governments to supply them with Covid-19 vaccines, subject to terms in a final contract.
A senior Conservative MP and ex-Cabinet minister told The Telegraph that Sir Patrick should have declared his stake in GSK.