Insider Trading: Ex-Ariad Staffers Charged With Using FDA Info On Iclusig
Former directors of pharmacovigilance and risk management agree to pay disgorgements and civil penalties in SEC complaints charging them with trading in Ariad stock in advance of FDA announcements about the leukemia drug Iclusig.
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After Office of Generic Drugs Deputy Director Gordon Johnston left FDA, he joined GPhA and 'tricked' a former colleague into sharing info on generic Lovenox on behalf of a hedge fund he was secretly working for, SEC says.
In past month, three individuals in biopharma space have been charged with insider trading despite efforts by companies and associations to protect confidential information; past sentencing suggests length of jail time former FDA official Gordon Johnston is likely to face.
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