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On Monday, Elizabeth Holmes, the founder of the blood screening commence-up Theranos, aimed to rebut a essential argument designed by prosecutors in her fraud case: that she lied about her company’s work with pharmaceutical providers.
A single of the most damning pieces of proof prosecutors have offered in opposition to Ms. Holmes is that Theranos despatched falsified pharmaceutical firm validation reports to traders. All those reports shown the logos of drug makers, which acted as proof that Theranos’s technological know-how experienced been validated by them. Throughout the trial, investors have testified that all those reviews aided persuade them to pour dollars into Ms. Holmes’s start off-up.
But reps from Pfizer and Schering-Plough testified that their businesses experienced hardly ever validated Theranos’s know-how. (Pfizer’s agent mentioned the firm had come to the opposite conclusion.) Nor experienced they approved of possessing their logos additional to the reports.
On the stand on Monday, Ms. Holmes testified about research that Theranos did with Merck, AstraZeneca, Centocor, Bristol Myers Squibb and some others in 2008 and 2009. 1 show shown inside documentation about the good results of some of this early work and confirmed a map of all over a dozen cities around the earth in which Theranos’s devices were utilised for research.
Kevin Downey, Ms. Holmes’s law firm, also confirmed what he termed a peer-reviewed journal that printed the effects of a research that Theranos did with Stanford University all-around this time. He did not point out the identify of the journal.
In each example, Ms. Holmes’s knowledge of Theranos’s technological know-how was that “it done perfectly,” she testified. In some of the illustrations, Theranos was paid out for its get the job done in the reports.
All over her trial, Ms. Holmes’s protection workforce has tried using producing the situation that there was some truth to what Ms. Holmes told investors.
“The truth of what occurred at Theranos is much, considerably additional intricate than what you have read about Elizabeth Holmes so considerably,” Lance Wade, one more of Ms. Holmes’s attorneys, explained in his opening statement at the trial’s start out in September.
