Insider traders snagged in ‘jinxed’ biopharma scheme
This article was originally published in Scrip
Georgia accountant Thomas Melvin and some of his closest friends found out the hard way that living by Gordon Gekko's "greed is good" doctrine has its drawbacks, especially when attempting to profit by trading on inside information about a pharmaceutical firm, whose deals have been highly scrutinized in recent years by the Securities & Exchange Commission (SEC).
You may also be interested in...
With new funding in hand, Moderna and its infectious disease venture Valera are going full-speed ahead with a Zika vaccine, taking an mRNA approach, which they said could be a more rapid strategy to try to stop the disease.
Allergan CEO Brent Saunders vows not to engage in price gouging and says his firm will limit cost increases to single-digit percentages, occurring only once per year. But it's unclear whether Saunders will stand as a lone wolf in the industry or if others will make similar pledges.
Hillary Clinton's plan to rein in high prices of older medicines, which includes creating a federal panel that has authority to impose fines, may grab headlines, but some analysts think it's unlikely to get very far in a divided Washington.