The US Securities and Exchange Commission has filed a suit against former AstraZeneca executive over alleged insider trading in connection with its 2019 deal to acquire rights to Daiichi Sankyo’s breast cancer therapy Enhertu. The complaint was filed against Hugues Pierre Joublin (54) – formerly global head of corporate affairs for oncology at AZ until his role was terminated on 15 December 2019 – in New York Southern District Court last week.
It says Joublin of purchased 500 American Depositary Shares in Daiichi Sankyo on 12 March 2019, six days after he learned about the $6.9 billion licensing deal and 16 days before it was revealed publicly on 28 March.
It was the only purchase of Daiichi Sankyo shares made by Joublin, according to the SEC, which is seeking a permanent injunction of this type of trading activity as well as the return of illicit profits as well as civil monetary penalties.
Joublin resides in France, but lived in Bethesda, Maryland at the time the deal was announced, close to AZ’s research facility in Gaithersburg.
JEFFREY NEWMAN, A FORMER PROSECUTOR IS NOW A WHISTLEBLOWER LAWYER WITH THE FIRM NEWMAN & SHAPIRO AND HE CAN BE REACHED AT 617-823-3217 OR AT JNEWMAN@NEWMANSHAPIRO.COM