STAT Plus: Genentech reaches deal with JHL Biotech over trade secrets allegedly stolen by former employees
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.
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