Sam Waksal's Comeback

Everyone deserves a second chance, right? Former ImClone Chief Executive Samuel Waksal's new company, Kadmon, will acquire Three Rivers Pharmaceuticals, the Wall Street Journal reports. Waksal founded ImClone in 1984, but was imprisoned for insider trading in 2002 in the same scandal in which Martha Stewart served prison time. He was released in 2009. The Three Rivers takeover is Kadmon's first, though Waksal has raised more than $200 million to make acquisitions. "I'm taking what we did at ImClone and bringing it to the next step to build a 21st-century biotech company," Waksal said.