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Business
Ex-Merck scientist pays for insider trading
by Michael McCoy
March 5, 2018
| A version of this story appeared in
Volume 96, Issue 10
Former Merck & Co. scientist Yang Xie has agreed to pay the U.S. Securities & Exchange Commission a penalty for insider trading related to Merck’s 2015 acquisition of Cubist Pharmaceuticals. Xie, at the time Merck’s director of global health outcomes research, bought shares in Cubist soon after learning that Merck would likely make an offer to acquire the biotech firm. He later sold them at a $2,287 profit, violating both Merck policy and insider trading law. Xie’s fine was $6,681, three times his profit on the trade.
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