{"id":98605,"date":"2009-12-24T13:18:41","date_gmt":"2009-12-24T18:18:41","guid":{"rendered":"http:\/\/blogs.wsj.com\/health\/2009\/12\/24\/sec-men-made-illicit-profits-in-sanofi-chattem-deal\/"},"modified":"2009-12-24T13:18:41","modified_gmt":"2009-12-24T18:18:41","slug":"sec-men-made-%e2%80%98illicit-profits%e2%80%99-in-sanofi-chattem-deal","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/98605","title":{"rendered":"SEC: Men Made \u2018Illicit Profits\u2019 in Sanofi-Chattem Deal"},"content":{"rendered":"

\"GoldSure, there was a logic to Sanofi’s $1.9 billion acquisition of Chattem. As we noted<\/a> a few days back, it’s the latest example of a big drug company looking to diversify into the more stable consumer products business.<\/p>\n

But a couple of investors may have had a bit more insight into the deal than that, the SEC alleged<\/a> this week. <\/p>\n

The agency said it obtained an emergency asset freeze against two men who had “possession of material, nonpublic information” about the deal and who bought options on Chattem stock earlier this month. The men sold the options, which were set to expire on Jan. 15, immediately after the deal was announced this week. The trade brought the men, who are French and live in Brussels, “illicit profits” of $4.2 million, the SEC said.<\/p>\n

Bloomberg<\/a> and Reuters<\/a> said the men couldn’t be reached for comment.<\/p>\n

The SEC has recently been looking at other big health-care deals as well. A broad probe of insider trading included investigations of the Pfizer-Wyeth and Merck-Schering deals as well, the WSJ reported<\/a> recently. None of the companies has been accused of doing anything wrong.<\/p>\n

Image via Chattem<\/em><\/p>\n

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\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Sure, there was a logic to Sanofi’s $1.9 billion acquisition of Chattem. As we noted a few days back, it’s the latest example of a big drug company looking to diversify into the more stable consumer products business. But a couple of investors may have had a bit more insight into the deal than that, […]<\/p>\n","protected":false},"author":650,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-98605","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/98605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/650"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=98605"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/98605\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=98605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=98605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=98605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}