NeoPharm Will Not Face SEC Charges

Law360, New York (December 1, 2006, 12:00 AM EST) -- Biotech drug maker NeoPharm Inc. announced Friday that the U.S. Securities and Exchange Commission has ended its probe of the company and will not recommend any enforcement action.

The SEC’s formal investigation, which began in March 2004, concerned allegedly misleading public statements the company made regarding the development of its liposome-encapsulated paclitaxel and liposome-encapsulated doxorubicin products, NeoPharm said.

As a result of the alleged misleading statements, a class action lawsuit was filed against the company at about that time.

Additionally, Waukegan, Ill.-based NeoPharm had sued Pharmacia...
To view the full article, register now.