SciClone agrees settlements with SEC and Justice Department

6 February 2016

USA-based, China-focused specialty pharmaceutical company SciClone Pharmaceuticals (Nasdaq: SCLN) says it has entered into a settlement agreement with the US Securities and Exchange Commission fully resolving the SEC's investigation into possible violations of the Foreign Corrupt Practices Act (FCPA).

Shares of the company, best known for its hepatitis B treatment Zadaxin (thymosin alpha 1), rose 17% to $9.47 in after-hours trading on Thursday following the announcement.

Under the terms of the settlement agreement, SciClone has agreed to pay a total of $12.8 million, including disgorgement, pre-judgment interest and a penalty. This payment is in line with the charges the company previously recorded and disclosed in its Form 10-Q filed with the SEC on August 10, 2015. As part of the agreement, SciClone neither admits nor denies it engaged in any wrongdoing. The Department of Justice (DOJ) has also completed its related investigation and has declined to pursue any action.

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