Reported by: Dave Michaels

A top technology executive at the healthcare company Viatris Inc. was charged with sharing illicit stock tips that netted millions of dollars for a friend who traded on them, according to the Justice Department.

Ramkumar Rayapureddy, the global chief information officer at Viatris, shared undisclosed information about a regulatory drug approval, his employer’s financial results and a planned merger with a division of Pfizer Inc., authorities said. When he worked at Mylan NV, a predecessor company to Viatris, Mr. Rayapureddy allegedly leaked the information to a friend, Dayakar Mallu, according to an indictment.

Mr. Mallu paid Mr. Rayapureddy for the information in Indian rupees, authorities said. The payments were made in person and in India to avoid detection, authorities said.

Mr. Rayapureddy was charged with securities fraud and conspiracy. He pleaded not guilty in Pittsburgh federal court on Thursday and posted an unsecured bond of $500,000.

Read full report: https://www.wsj.com/articles/viatris-executive-charged-in-insider-trading-scheme-allegedly-netting-millions-11668124444