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DBL%20Hendrix%20small.png College chemistry, 1983

Derek Lowe The 2002 Model

Dbl%20new%20portrait%20B%26W.png After 10 years of blogging. . .

Derek Lowe, an Arkansan by birth, got his BA from Hendrix College and his PhD in organic chemistry from Duke before spending time in Germany on a Humboldt Fellowship on his post-doc. He's worked for several major pharmaceutical companies since 1989 on drug discovery projects against schizophrenia, Alzheimer's, diabetes, osteoporosis and other diseases. To contact Derek email him directly: derekb.lowe@gmail.com Twitter: Dereklowe

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In the Pipeline: Don't miss Derek Lowe's excellent commentary on drug discovery and the pharma industry in general at In the Pipeline

In the Pipeline

« A Malfunctioning Spambot | Main | Automated Med-Chem, At Last? »

March 26, 2013

The Wyeth/Elan Insider Trading Case Resolves

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Posted by Derek

You may remember this insider trading scandal from last year, involving a lead investigator for Wyeth/Elan's trials of bapineuzumab for Alzheimer's.

Here's the sequel. The hedge fund involved has agreed to pay $600 million dollars to settle the charges, although this does not get the manager himself off the hook (litigation in his case continues). Dr. Sidney Gilman, the investigator who leaked the information, has already been required to give back all his own gains, with interest and penalties.

Comments (6) + TrackBacks (0) | Category: Business and Markets | Clinical Trials | The Dark Side


COMMENTS

1. anchor on March 26, 2013 8:50 AM writes...

Wow! 600 million dollars and boy that is mother load!

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2. dearieme on March 26, 2013 10:12 AM writes...

"Sidney Gilman, the investigator who leaked the information, has already been required to give back all his own gains, with interest and penalties": including time in jail? If not, why not?

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3. Anonymous on March 26, 2013 1:08 PM writes...

I still wonder what effect this fraud had on bring about the eventual distruction of Wyeth by Pfizer.

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4. Anonymous on March 26, 2013 1:10 PM writes...

@2 I suspect it was his advanced age.

Permalink to Comment

5. bboooooya on March 26, 2013 2:13 PM writes...

" including time in jail? If not, why not?"

C'mon, it's not like he's a poor kid from the Bronx who lifted a $50 DVD player: now THAT kinda stealing gets you to jail. Helping defraud investors (for example, most peoples 401Ks), that's not stealing.....

Permalink to Comment

6. Hap on March 26, 2013 2:47 PM writes...

He was certainly old enough to know better, and if you can go to jail for life for things done when you were nine, I can't see why you can't go to jail (for things you damn well knew were wrong) at eighty.

They do have prison hositals, anyway, and all those old mob dons have to have someplace to stay, so I'm sure they can make reasonable arrangements at one of the minimum-security federal prisons.

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