STAT+: Former Emergent BioSolutions CEO sued for insider trading, company reaches $900K settlement in N.Y.
\n \t
\n
<\/BR>
\n
\n \t
\n
<\/BR><\/p>\n
The former chief executive officer of Emergent BioSolutions was accused of insider trading by the New York attorney general in connection with a contract the company had to manufacture a Covid-19 vaccine for AstraZeneca.<\/p>\n
Robert Kramer allegedly sold more than $10 million worth of Emergent stock after becoming aware of contamination problems that made millions of doses of the vaccines unusable, but before the information was disclosed publicly, according to a lawsuit filed in New York Superior Court.<\/p>\n
The episode began in mid-2020, when Emergent won two contracts worth $261 million to make vaccines for AstraZeneca. The arrangement stemmed from Operation Warp Speed, a U.S. government program that was designed to quickly produce vaccines and other counter-measures during the pandemic. Emergent also had contracts to make vaccines for Johnson & Johnson.<\/p>\n
Continue to STAT+ to read the full story\u2026<\/a><\/p>\n<\/div>\n