Genentech Is Second Biologic Titan To Resolve Trade Secret Suit; Former Employees Still On Hook
Genentech reaches memorandum of understanding with JHL Biotech involving four biosimilars while continuing its suit against former employees; Amgen settlement with Coherus ended litigation entirely.
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Two former JHL Biotech executives, Racho Jordanov and Rose Lin, have been convicted in the US of conspiracy to commit trade secret theft and wire fraud after submitting plea agreements. Meanwhile, the company – now named Eden Biologics – has just announced a change of CEO.
Two former JHL Biotech executives, co-founders Racho Jordanov and Rose Lin, have been accused of a “fraudulent scheme to steal thousands of confidential and proprietary documents from Genentech” to help the firm accelerate its development and production of biosimilars.
AbbVie claims a former employee took Humira manufacturing process know-how to Alvotech. Settlement is likely as Alvotech does not want to delay development of its biosimilar and AbbVie doses not want to disclose its trade secrets in court.