Pfizer manager doing time for insider trading

Amit Dagar was charged in June 2023 with trading ahead of a November 2021 announcement that Paxlovid had reduced hospitalisations and deaths in high-risk patients by 89%, which sent the shares surging. — Reuters

NEW YORK: A former Pfizer Inc statistician was sentenced to nine months behind bars for making more than US$200,000 by trading on confidential information before a key announcement about the drugmaker’s Covid-19 treatment Paxlovid.

Amit Dagar, convicted of securities fraud and conspiracy after a one-week trial in January, was sentenced on Tuesday in a federal court in Manhattan by US District Judge Andrew L. Carter Jr.