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Transkaryotic's ex-CEO settles SEC fraud suit

This article was originally published in Scrip

Executive Summary

The US Securities and Exchange Commissionhas reached a settlement with the former CEO of Transkaryotic Therapies, Richard Selden, who was accused of misleading investors about the US prospects of the enzyme replacement therapy, Replagal (agalsidase alfa), while selling stock to benefit himself. He will pay a $125,000 civil penalty and about $1 million in "ill-gotten gains" and interest.

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