BMS Exec Charged with Insider Trading

Assistant treasurer Ramnarine accused of investing in companies targeted for acquisition by the drugmaker.

Bristol-Myers Squibb Co. executive Robert Ramnarine was charged with insider trading for making $311,361 in illegal profit by buying stock options in three companies targeted for acquisition.

The FBI arrested Ramnarine, 45, and he appeared today in federal court in Newark, New Jersey, where he was released on $250,000 bond. Ramnarine’s jobs included executive director of pensions and savings investments and assistant treasurer for capital markets.

Company Statement

Bristol-Myers agreed to buy ZymoGenetics in October 2010 and Amylin in June. It withdrew from talks on buying Pharmasset, which Gilead Sciences Inc. agreed to buy in November 2011 for $11 billion.

Page 1 of 2

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Comments

Advertisement. Closing in 15 seconds.