The Securities and Exchange Commission today charged Hugues Pierre Joublin, a former employee of the pharmaceutical company AstraZeneca PLC, with insider trading in advance of the company's March 28, 2019 announcement that it had entered into a global development and commercialization agreement with Daiichi Sankyo Co. Ltd.

The SEC's complaint, filed in federal court in Manhattan, alleges that two weeks before the public announcement, Joublin, then Global Head of Corporate Affairs for Oncology for AstraZeneca, learned that the company was involved in confidential negotiations with Daiichi to enter into a global development and commercialization agreement for Daiichi's targeted antibody cancer-treating drug. On March 12, 2019, while in possession and on the basis of the material nonpublic information, and in breach of his duties to AstraZeneca and its shareholders, Joublin purchased 500 American Depository Shares of Daiichi. The day following the announcement, Daiichi shares closed at $49.97, an increase of $9.78 (24%) from the prior day's closing price. As alleged in the complaint, Joublin obtained illicit profits of approximately $4,995.

The SEC's complaint charges Joublin with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Without admitting or denying the complaint's allegations, Joublin has agreed to the entry of a final judgment that would enjoin him from violations of the charged provisions, order disgorgement and prejudgment interest, and impose a one-time civil penalty for a total of $10,601.37. The settlement is subject to court approval.

The SEC's investigation was conducted by Paulina L. Jerez of the Philadelphia Regional Office and supervised by Kingdon Kase and Scott A. Thompson. The SEC appreciates the assistance of the Financial Industry Regulatory Authority.