5 years after Pfizer buyout, SEC charges Medivation's ex-dealmaking lead with insider trading

What not to do when you learn your company is about to be bought out by Pfizer? Load up on stock options in a similar biopharma days before the announcement is made official.

Matthew Panuwat, Medivation's former head of business development, is learning that lesson the hard way. The U.S. Securities and Exchange Commission on Tuesday said it was charging Panuwat with insider trading ahead of his company’s acquisition by Pfizer, which paid $14 billion for oncology-focused Medivation in 2016.