phil_vardena

Dendreon's Provenge: Government Agencies Play Hide and Seek With Facts

Do you remember Imclone?

Sam Waksal's daughter had sold 2.5 million dollars worth of ImClone shares on December 27, 2001, the day before the announcement and subsequent stock decline.

The next day, there were rumors that Martha Stewart may also have sold in advance of the news, thanks to a direct tip from her friend, Sam Waksal.

On June 9, the Wall Street Journal says that Harlan Waksal knew three days in advance that the FDA would reject the Erbitux application.

Later, it would become clear that Alan Bennett, a lawyer for Bristol-Myers in Washington, had sent an email to Harlan Waksal and Bristol-Myers management saying that Richard Pazdur, an FDA employee, told him the Erbitux application would be rejected the following Friday, which turned out to be the case.

On June 12, Sam Waksal was arrested by the FBI on insider trading charges.

Martha Stewart was arrested and served prison time.

Dr. Richard Pazdur is still at the FDA…