Theranos founder Holmes has denied that Walgreens is misleading

Author: Jody Godoy

SAN JOSE, Calif. (Reuters) – Theranos founder Elizabeth Holmes denied Walgreens lied about her company’s technology on Tuesday in her fraudulent trial, offering reasons to keep the main details of operations and internal reports.

Holmes took office for the third day in a row to defend himself against fraudulent allegations related to Theranos to conduct blood tests that are now extinct. The company introduced technology that can perform diagnostic tests faster and more accurately than conventional laboratory tests with a drop of blood from a finger hole.

Jurors in San Jose, California, heard a prosecutor at the start of the trial that Holmes had falsely promised miniature blood analyzers to establish a partnership with Walgreens, but then secretly used “large, clumsy third-party machines” to test patient samples. who entered his shops.

On Tuesday, Holmes told jurors that he followed legal advice when Theranos refused to use Walgreens ’third-party analyzers because the changes used to make the small samples were Theranos’ trade secret.

“Large medical device companies like Siemens can easily replicate what we’ve done,” he said.

Once valued at $ 9 billion, Theranos collapsed after the Wall Street Journal published a series of articles that began in 2015 that suggested its devices were flawed and inaccurate.

Holmes ’decision to testify is risky because it puts him in front of a tough cross-examination of prosecutors.

Throughout his testimony, Holmes, 37, wanted to show that he believed Theranos ’technology was capable of fulfilling his claims by encouraging jurors to email Theranos’ scientists to discuss the ability of a small machine to perform any test and move forward. in developing it.

Holmes also denied that Theranos had misrepresented his work with pharmaceutical companies on Tuesday Pfizer Adding the logos of Inc (NYSE 🙂 and Schering-Plow, which prosecutors have described as an attempt to pass on the effects of Theranos.

He admitted that in 2010 he was discussing a partnership with Theranos before sending it to pharmaceutical operator Walgreens to add logos to the reports to convey the involvement of physicians in promising research using Theranos technology.

“I wish I could have done it differently,” Holmes said.

Holmes also testified that he did not hide the increase from Pfizer by showing an email to the jury where in 2014 a report with the logo of the people of Pfizer was sent to them.

At the two-month trial, the jury heard the testimony of more than two dozen prosecution witnesses, including patients and investors who were prosecuted by prosecutor Holmes.

Holmes has pleaded not guilty to nine counts of wire-fraud and two counts of conspiracy.