Ex-SAC Manager Was ‘Pupil’ of Doctor Accused of Tips
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Sid Gilman, a University of Michigan neurologist, was portrayed by U.S. authorities as a $1,000-an-hour consultant who leaked confidential drug trial data that helped hedge fund SAC Capital Advisors LP illegally avoid losses or make profit of $276 million.
Gilman, 80, was chairman of a safety-monitoring committee that oversaw a clinical trial by Wyeth LLC and Elan Corp. into whether the drug bapineuzumab, or bapi, was safe for patients with mild-to-moderate Alzheimer’s disease. Gilman also moonlighted for a New York-based expert network, providing advice at a fee to former SAC portfolio manager Mathew Martoma, according to the Securities and Exchange Commission and Justice Department.