Execs Plead Guilty to Pharma Stock Insider-Trading

Source: pharmamanufacturing.com

Oct 10, 2013

bloomberg.com

John Lazorchak, A former director at biotech drugmaker Celgene Corp., pleaded guilty for his role in a health-care stock insider-trading ring that prosecutors said generated $1.48 million in illicit profit.

Lazorchak admitted to passing inside tips about Celgene’s planned acquisitions, quarterly earnings and drug approval developments to a former supervisor at Sanofi-Aventis as well as some high school friends.

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