SEC sharges Pfizer & Alexion employees with insider tradingJune 30, 2023 - A "now former" statistician at Pfizer and his associate have been charged with insider trading, using advance information on a drug trial to make more than $350,000 from stock purchases they executed one day before the company announced trial results for COVID-19 drug Paxlovid.
According to charging documents, Amit Dagar, 44, of Hillsborough, New Jersey, received notice from his supervisor that the trial of Pfizer’s COVID oral antiviral was a success and that the company was set to reveal the results the next day.
Dagar allegedly shared the information with his friend and business associate Atul Bhiwapurkar, 45, of Milpitas, California, and the two purchased short-term stock options, including some that expired the next day, the Securities and Exchange Commission (SEC) said. The trades generated profit of $214,395 for Dagar and $60,300 for Bhiwapurkar.
“Insider trading is not a quick buck. It’s not easy money. It’s not a sure thing. It’s cheating. It’s a bad bet. It’s a ticket to prison,” U.S. Attorney Damian Williams said in a release.
https://www.fiercepharma.com/pharma/former-pfizer-employee-charged-insider-trading-using-advance-information-paxlovid-trial
With respect to the other - this case involves insider trading by Dupont, Cronin, Kaplan, Feldman and Mendoza in the securities of Portola Pharmaceuticals, Inc. (“Portola”) in advance of the May 5, 2020 announcement of a tender offer by Alexion Pharmaceuticals, Inc. (“Alexion”) to acquire Portola
https://www.sec.gov/litigation/complaints/2023/comp-pr2023-122.pdf