The Department of Justice has accused a former Pfizer employee and his friend and business partner in participating in an insider-trading scheme based on confidential information about the results of clinical trials of a medicine used to treat COVID-19.
Prosecutors in New York have accused 44-year-old Amit Dagar, of Hillsborough, New Jersey, of buying call options in Pfizer stock after learning that the COVID-19 drug Paxlovid performed favorably a day before the drug trial results were made public.
Dagar, a former senior statistical program lead for the Paxlovid drug trial, also allegedly tipped off a friend, Atul Bhiwapurkar, who also purchased short-dated Pfizer stock options, all before the trial results were announced….