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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Pfizer alleges its associate director of statistics transferred 12,000 files from her company laptop ahead of move to Xencor. Company seeks a temporary restraining order to prevent her from disclosing confidential information, including information on Pfizer’s COVID-19 vaccine and monoclonal antibodies for treatment of cancer.
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.