Salem Radio Network News Tuesday, August 3, 2021

Health

U.S. charges former JHL Biotech executives with stealing trade secrets

WASHINGTON (Reuters) – Two co-founders of JHL Biotech were charged on Wednesday with stealing trade secrets from Genentech that helped their firm speed development of generic versions of Genentech biologic drugs, the U.S. Justice Department said in a statement.

Raco Ivanov Jordanov and Rose Lin were also charged with wire fraud, international money laundering and obstruction of justice in the grand jury indictment, the statement said.

Jordanov and Lin pleaded not guilty to all the charges in an appearance on Wednesday in federal court in San Francisco.

(Reporting by Eric Beech; Editing by Mohammad Zargham)

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