Conflict of Interest Dispute, as it turns out Sir Patrick Vallance, Chief Scientific Officer, has £ 600,000 in shares in vaccine makers under contract to manufacture coronavirus bumps in the UK
- Sir Patrick was president of multinational drug giant GSK from 2012 to 2018
- The Chief Scientific Adviser holds a deferred bonus of 43,111 shares valued at £ 600,000
- He has already redeemed over £ 5m in shares that he held when he retired
- The 60-year-old medic is chairman of the government's special committee on vaccines
Sir Patrick Vallance is involved in a pharmaceutical giant that seeks to develop a Covid vaccine for the government. This is evident from a report.
The Chief Scientific Adviser holds the deferred bonus of 43,111 shares in GlaxoSmithKline (GSK) from his time as president of the multinational.
Sir Patrick has already sold more than £ 5 million in stock received during his tenure from 2012 to 2018 when he was appointed by the government.
Telegraph reports indicate that when Sir Patrick stepped down, he owned 404,201 GSK shares valued at £ 6.1 million at today's price.
Sir Patrick Vallance speaks to the nation Monday night. He and Chris Whitty explained why the government announced a series of new lockdown measures
Sir Patrick, who also chairs the government's panel of experts on vaccines, predicted at a news conference this week that the first effective doses of a sting could be limited by the end of this year.
GSK is one of more than 20 pharmaceutical companies around the world striving to cure the coronavirus – an accomplishment that would be colossally lucrative.
Sir Patrick's former employer has signed contracts with the UK and US governments to provide them with Covid-19 vaccines, subject to the terms of a definitive contract.
A senior Conservative MP and former cabinet minister told The Telegraph that Sir Patrick should have declared his stake in GSK.
"The policy of this government is to suppress Covid at every opportunity until we get a vaccine," said the MP. 'That makes it more likely that a vaccine will be prioritized by the government and that it happens to hold stakes in one of the leading companies that develop it. It's a potential conflict of interest.
“When he makes vaccine decisions and advises the government on them, he has to either part with stocks or make a statement every time he touches on the subject. In the Commons, every time MEPs raise an issue in which they have a registered interest, they must explain. Every time he talks about vaccines or on TV, he should put it on the table. & # 39;
It was unclear whether Sir Patrick actually expressed his interest at any point. MailOnline asked him for clarification.
The headquarters of GlaxoSmithKline Pharmaceuticals in Brentford, West London
A government spokesman said Sir Patrick holds a deferred stock bonus due in April but refused to comment on the size of the stake or its value.
"Appropriate steps were taken upon his appointment to manage the interests of the government's Chief Scientific Adviser (GCSA) in accordance with the advice given at the time," the spokesman said.
The government spokesman added that while Sir Patrick chairs the government's panel of experts on vaccines, "he has no control over contractual and commercial decisions on vaccine procurement," which are the provincial ministers.
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