BioCentury
ARTICLE | Company News

Celgene, Stryker, Sanofi other news

April 28, 2014 7:00 AM UTC

Judge Katharine Hayden for the U.S. District Court for the District of New Jersey sentenced Mark Cupo, former director of accounting and reporting at Sanofi, and John Lazorchak, former director of financial reporting at Celgene, each to 16 months in prison for their roles in an insider trading network. Last October, Cupo pled guilty to five counts of securities fraud and two counts of conspiracy to commit securities fraud, while Lazorchak pled guilty to five counts of securities fraud and one count of conspiracy to commit securities fraud. Cupo provided co-conspirators with insider information obtained from Lazorchak between 2007 and 2012 related to Celgene's anticipated acquisitions, earnings results and regulatory news. The co-conspirators used the news to execute profitable Celgene trades and share the profits with Cupo and Lazorchak. ...