AstraZeneca’s former global head of corporate affairs for oncology Hugues Joublin has been officially charged with insider trading.
The SEC complaint accuses Joublin of using his insider knowledge to buy 500 shares of Daiichi Sankyo stocks two weeks before the company signed a hefty licensing deal in 2019 with AstraZeneca, acquiring $20,000 worth of stock.
The deal stated that Japanese-based Daiichi would develop and commercialize trastuzumab deruxtecan, a proprietary antibody-drug conjugate (ADC) and potential new targeted medicine for cancer treatment. The agreement, which became official six days after Joublin bought the stock, was valued at $6.9 billion. Now, the SEC is asking that Joublin return his profits totaling $4,955 and pay a fine.
While Joublin hasn’t been working with AstraZeneca since 2019, he has started two companies and is currently the CEO of Salience Communication and Joublin Consulting.