After three of its former employees were arrested last year for allegedly stealing trade secrets and giving confidential information to JHL Biotech, Genentech has struck a far-reaching settlement in a related lawsuit with the Taiwanese company.
In a statement, the Roche (RHHBY) unit disclosed that JHL agreed to destroy the data, not share the information with others, or use it to develop any medicines. Moreover, JHL agreed to allow Genentech to conduct unannounced audits to ensure compliance and make an undisclosed payment. The deal does not affect a criminal case filed by the feds, which is scheduled to go to trial in April 2020.
“Leveraging trade secrets and confidential and proprietary information from an employer or a competitor to create an unfair and illegal competitive advantage is a serious crime,” Sean Johnston, senior vice president, general counsel, and chief compliance officer, said in the statement. The data pertained to four medicines: Pulmozyme, Rituxan, Herceptin, and Avastin,
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