Ipsen Employee Pleads Guilty in Insider Trading Scandal

Dishant Gupta, Ipsen's director of data strategy and operations, intends to plead guilty to securities fraud after illicitly profiting over $262,000 from insider trading. Gupta used confidential information about Ipsen's acquisition of Epizyme to make the trades. The U.S. Securities and Exchange Commission is also pursuing related claims.

Dishant Gupta, director of data strategy and operations for French drugmaker Ipsen, faces charges of securities fraud after illicitly earning more than $262,000 through insider trading. Gupta plans to plead guilty in response to the allegations, according to recent court documents. He is also settling claims with the U.S. Securities and Exchange Commission.

Prosecutors reveal that Gupta obtained confidential information regarding Ipsen's plans to acquire cancer drug developer Epizyme, which has led to substantial financial gains. The alleged insider trading occurred after an Ipsen executive sought Gupta's assistance in preparing materials related to the acquisition in March 2022.

Further investigations showed Gupta's awareness of the impending deal via his online searches for terms like 'Epizyme buyout.' Upon Ipsen's announcement of the $247 million acquisition of Epizyme on June 27, 2022, Gupta sold his Epizyme shares, netting a significant profit. Ipsen has refrained from commenting on the legal matters involving Gupta.

(With inputs from agencies.)