MGSC14H3 Lecture Notes - Imclone Systems, Cetuximab, Ethical Dilemma

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Document Summary

Martha stewart case used inside information to sell a stock investment to an unsuspecting public. Imclone systems inc = trying to get fda approval to market erbitux, an anti- colon cancer drug. Samuel waksal, ceo of imclone = warned that fda was going to refuse to approve the drug before the official announcement (that fda was going to refuse to approve), waksal told family members to sell imclone stocks. Martha stewart was probably given insider information by waksal sold her. Imclone stocks before official announcement gained , 824; avoided losing , 673 when the stock price dropped the next day. Ethical dilemma: whether or not it is ethical for people to use insider information to make decisions regarding their own stock investments.

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