Ex-My­lan em­ploy­ee pleads guilty to in­sid­er trad­ing, il­le­gal­ly deal­ing on FDA ap­provals, earn­ings and Up­john merg­er

A for­mer My­lan IT ex­ec­u­tive plead­ed guilty Fri­day to an in­sid­er trad­ing scheme where he bought and sold stock op­tions on an­oth­er ex­ec­u­tive’s ad­vice.

Pros­e­cu­tors se­cured the plea from Dayakar Mal­lu, My­lan’s for­mer VP of glob­al op­er­a­tions in­for­ma­tion tech­nol­o­gy, af­ter un­cov­er­ing the plan. Mal­lu col­lab­o­rat­ed with an un­named “se­nior man­ag­er,” the SEC said, to trade op­tions ahead of My­lan pub­lic an­nounce­ments re­gard­ing FDA ap­provals, rev­enue re­ports and its merg­er with the Pfiz­er gener­ics sub­sidiary Up­john. The two sub­se­quent­ly shared prof­its.

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