Ex-Biopure Head Settles SEC Blood Substitute Case

Law360, New York (August 8, 2008, 12:00 AM EDT) -- Biopure Corp.’s former head of regulatory affairs has settled with the U.S. Securities and Exchange Commission for his role in an alleged scheme to promote the company's blood substitute, despite receiving negative reports over the product’s safety from U.S. regulators, the SEC announced Thursday.

Former regulatory head at Biopure, Howard Richman, agreed to pay a $150,000 civil fine to settle charges that the company misled the public about its effort to obtain approval from the U.S. Food and Drug Administration for its primary product, a synthetic...
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