• Regulatory NewsRegulatory News

    Former Regulatory Affairs Director Charged With Insider Trading

    The US Securities and Exchange Commission (SEC) on Thursday charged Robert Gadimian, former senior director of regulatory affairs for Puma Biotechnology, with making more than $1.1 million thanks to non-public information linked to the company’s breast cancer treatment. The SEC alleges that Gadimian pocketed the illicit profits by secretly purchasing Puma stock and short-term call options based on non-public information he learned about positive developments in two cl...
  • Regulatory NewsRegulatory News

    Former FDA Deputy Director Charged With Insider Trading for Leaking Non-Public Approval Information

    A former Deputy Director of the US Food and Drug Administration’s (FDA) Office of Generic Drugs (OGD) was charged on Wednesday for providing tips on drug approvals to three hedge fund managers that made tens of millions off of the non-public information. The Securities and Exchange Commission (SEC) announced the charges of insider trading against two hedge fund managers and their source, Gordon Johnston, who worked for a dozen years at FDA and leaked approval in...
  • Chemist Sentenced to Prison for Insider Information

    A chemist formerly employed by the US Food and Drug Administration (FDA) was sentenced 5 March to five years in prison after using insider information to earn $3.78 million , reports Bloomberg . The chemist, Cheng Yi Liang, formerly of FDA's Center for Drug Evaluation and Research (CDER), pled guilty last year to one count of securities fraud and one count of making false statements. According to court document, Liang used his position inside FDA to make trades based...