Word: biotechs
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Dates: during 2000-2009
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...donors in the U.S. may leave their bodies to science, and while most people like to think of their mortal remains being gently dissected by respectful medical students, the fact is that cadavers might just as easily be sawed apart and scattered to pharmaceutical companies and biotech firms, or even used as flesh-and-blood crash-test dummies. The only hard rule, by federal law, is that under no circumstances may anyone profit from the transaction. The exception to that rule, however, is that the people handling, storing and processing the body may collect a reasonable fee for expenses. Such...
...Growing Pains The British government gave the go-ahead for the commercial farming of genetically modified maize, the first biotech crop to be grown in the U.K. Anti-GM activists are threatening to rip the crops from the ground...
Stewart did break the law; she was found guilty of conspiring with her former Merrill Lynch stockbroker, Peter Bacanovic, for hiding the reason behind her Dec. 27, 2001 sale of shares in the biotech company ImClone Systems. The judge threw out the most serious charge against her—securities fraud, and prosecutors did not have evidence of insider trading and could not bring that charge against her. Stewart’s savings on the ImClone shares, sold the day before an announcement that sent the stock tumbling, was relatively small by corporate scandal standards, amounting to approximately...
Stewart did break the law; she was found guilty of conspiring with her former Merrill Lynch stockbroker, Peter Bacanovic, for hiding the reason behind her Dec. 27, 2001 sale of shares in the biotech company ImClone Systems. The judge threw out the most serious charge against her—securities fraud, and prosecutors did not have evidence of insider trading and could not bring that charge against her. Stewart’s savings on the ImClone shares, sold the day before an announcement that sent the stock tumbling, was relatively small by corporate scandal standards, amounting to approximately...
...jury accepted the prosecution's case that Stewart had sold her stock in the troubled biotech firm ImClone after Bacanovic had told his assistant to inform her that ImClone founder Sam Waksal was trying to sell his own stock. The day after Stewart sold, the Food and Drug Administration refused to review ImClone's application for Erbitux, a promising cancer drug, prompting a sharp drop in the share price. Stewart dumped hers at $58.43; the next day they opened at $45.39 - a fall that would have cost her approximately $51,200 if she sold them immediately once the news...