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Heads Of BioNTech, Moderna Enter Forbes List Of 50 New Billionaires In Healthcare Sector
Fahad Shabbir (@FahadShabbir) Published December 24, 2020 | 03:32 PM
Heads of pharmaceutical companies BioNTech and Moderna have become newcomers in the Forbes list of 50 new billionaires of the year in health care sector after they successfully developed vaccines against COVID-19
MOSCOW (UrduPoint News / Sputnik - 24th December, 2020) Heads of pharmaceutical companies BioNTech and Moderna have become newcomers in the Forbes list of 50 new billionaires of the year in health care sector after they successfully developed vaccines against COVID-19.
According to the US business magazine, 50 new billionaires have emerged in the health care sector in 2020. Their revenues were boosted by a strong growth in the stock market, supported by large-scale investments in companies that develop vaccines, treatment methods and various medical devices.
BioNTech CEO Ugur Sahin is now worth $4.2 billion, while Moderna CEO Stephane Bancel, has a $4.1 billion fortune, the publication said.
The list of new billionaires also includes Yuan Liping, former wife of the chairman of China's leading vaccine producer Shenzhen Kangtai Biological Products.
She owns 24 percent of company's share and her net worth is $4.1 billion.
Hu Kun, the chairman of Contec Medical Systems, a manufacturer of medical devices based in the northeastern Chinese port city of Qinhuangdao, is also on the list, with a net worth of $3.9 billion.
In mid-November, BioNTech and Pfizer announced that their candidate vaccine completed phase 3 clinical trials, with a declared efficacy level of 95 percent. Moderna's candidate vaccine is underway with phase 3 clinical trials, involving an expanded pool of participants of different age and health condition. On November 30, the company released results of the vaccine's Primary efficacy analysis indicating efficacy of 94.1 percent.
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