Health Law & Business

These Covid Billionaire Fortunes Are Fading With Vaccine Rollout

Feb. 24, 2021, 2:00 AM

In the health-care industry, the coronavirus pandemic led to big fortunes, fast. Now some of them are evaporating just as quickly.

Take Seegene Inc., a maker of Covid-19 test kits, and Alteogen Inc., a biotech with subcutaneous-injection technology. Their founders became billionaires as the shares surged last year. Fast forward a few months to the vaccine rollout, and they’ve lost their title after both stocks sank more than 41%, according to the Bloomberg Billionaires Index.

It’s a similar story for glovemakers in Malaysia, which counted at least five industry billionaires by August as the worsening health crisis...

To read the full article log in. To learn more about a subscription click here.