- Holmes on Tuesday admitted to doctoring the Theranos lab report with the logos of Pfizer and Schering-Plough company before sending it to Walgreens.
- But he denied misrepresenting the work of the now defunct company
- Prosecutors have said the addition of the pharma giant’s logo was an attempt to pass off Theranos’ findings as
- Holmes also testified that he did not hide the joint from Pfizer
- Holmes, 37, has pleaded not guilty to charges of lying about Theranos’ technology
Theranos founder Elizabeth Holmes on Tuesday admitted to doctoring the Theranos lab report with logos from Pfizer and the Schering-Plough company before sending it to Walgreens, but she denied misrepresenting the work of the now-defunct company.
Holmes, 37, took the stand for the third day and denied lying to Walgreens about the blood test technique, which is said to be able to drive diagnosis faster and more accurately than a traditional lab test.
Prosecutors have said the addition of the pharma giant’s logo was an attempt to pass off Theranos’ findings as theirs.
Holmes said, ‘I wish I had done it differently.
He admitted to adding the logo to the report just before sending it to Walgreens to show pharmaceutical companies’ participation in promising studies using Theranos technology.
Holmes is facing charges of conspiracy and wire fraud for his alleged involvement in a multimillion-dollar scheme to defraud investors about Theranos’ blood testing services.
Elizabeth Holmes, 37, was seen entering court on Tuesday. She is facing charges of conspiracy and wire fraud for allegedly being involved in a multi-million dollar scheme to defraud investors with Theranos blood testing laboratory services.
Theranos founder Elizabeth Holmes and her partner Billy Evans on Tuesday met Robert F. Leaving the Peckham Federal Building
Holmes also testified that he did not hide the joint from Pfizer, showing jurors an email where the report with the logo was sent to individuals at Pfizer in 2014.
She told jurors in San Jose, Calif., that she was following legal advice when she blocked the company’s use of Walgreens’ third-party analyzer.
Holmes, 37, pleaded not guilty to charges of lying about Theranos’ technology, including that it was more diagnostic than a traditional laboratory test with a drop of blood from a finger prick. Can run a series of tests more quickly and accurately.
At the start of the trial, a prosecutor said Holmes falsely promised her that she could start a partnership with the pharmacy chain – which was discussed in 2010 – but ended up testing patients’ samples using ‘big, clunky third-party machines’ Gaya, looking into Walgreens locations.
“Large medical device companies like Siemens can easily reproduce what we do,” she said.
Holmes said on Monday that Theranos was trying to partner with the Defense Department to buy its own blood test, in the hopes it could detect markers of post-traumatic stress disorder.
Prosecutors allege that Holmes misled investors into thinking she was working with the Pentagon to introduce technology when in reality there was no such partnership.
Holmes also testified Monday that his company’s product performed well in testing compared to traditional methods of blood testing. Her attorney listed Holmes on a number of joint projects that Theranos had with pharmaceutical giants including Novartis, Merck and AstraZeneca.
In Monday’s testimony, he compared a traditional testing machine to a much smaller Theranos device, which he referred to as 3.0, intended to remove human involvement in blood sample processing.
“If we had the ability to automate that process, we could have reduced the error associated with traditional laboratory testing,” Holmes told jurors.
Holmes testified in 2008 and 2009 about studies in which he said Theranos devices performed well, including studies under agreements with drug companies such as Novartis.
Once valued at $9 billion, Theranos collapsed after the Wall Street Journal published a series of articles starting in 2015 that suggested its tools were flawed and inaccurate.
Holmes’ decision to testify is risky because it exposes him to a potentially difficult cross-examination by prosecutors.
During his testimony, 37-year-old Holmes tried to show that he believed Theranos’ technology was capable of fulfilling his claims, encouraging emails from Theranos scientists to jurors of any sort. Discussing the ability of a small machine to run tests and progress was shown. on developing it.
In the two-month trial, jurors have heard the testimony of more than two dozen prosecution witnesses, including patients and investors, whom prosecutors say Holmes defrauded.
Holmes pleaded not guilty to nine wire fraud counts and two conspiracy counts.
Holmes is due to resume testifying on Monday.