Following a manufacturing mistake that left Emergent BioSolutions with a botched batch of Johnson & Johnson’s Covid-19 vaccine, the company is facing a shareholder lawsuit accusing it of insider trading.
The year 2018 saw a number of significant triumphs in the biopharma industry – increased numbers of drug approvals and near record-shattering IPOs, but the industry also saw its share of blemishes and black eyes from various corners of the globe.
The U.S. Securities and Exchange Commission leveled charges at a former Sangamo Therapeutics executive and others for an insider-trading scheme that netted more than $1.5 million in “illegal profits.”
Schultz Chan, the former director of biostatistics at Cambridge-based Akebia Therapeutics, and Songjiang Wang, a director of statistical programming at Merrimack Pharmaceuticals, were convicted of insider trading by a federal grand jury in Boston.
Two partners at the hedge fund Deerfield Management and two others were found guilty of charges stemming from what prosecutors have described as an insider trading scheme based on leaks from within a federal healthcare agency.
Biotech investing is a volatile business as 2018 has seen a little-known hedge fund with a focus on biotech and the life sciences beat out a couple of heavy hitters, David Einhorn and Bill Ackman.
November 12, 2015By Mark Terry, BioSpace.com Breaking News Staff Now that Pfizer Inc. (PFE) is in friendly talks to acquire Allergan (AGN), analysts are interested in what Allergan chief […]