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U.S. investigators filed criminal and civil fraud charges against a French doctor they say leaked negative inside information about a Human Genome Sciences Inc. hepatitis drug trial, enabling six hedge funds to avoid $30 million of losses.
Yves Benhamou was accused by the Department of Justice and Securities and Exchange Commission of tipping a portfolio manager about Human Genome’s experimental hepatitis C treatment Albuferon in late 2007 and early 2008. Get the full story »
Sam Waksal, the former chief executive of ImClone Systems Inc., whose insider trading scam sent him and Martha Stewart to prison, Monday announced an acquisition meant to catapult him back into the biotech game.
Waksal said that his drug company Kadmon Pharmaceuticals has bought the privately held Three Rivers Pharmaceuticals and that its treatments for hepatitis C, infections and cancer will be the backbone of his new enterprise. Get the full story »
