![]() “I wish I had done it differently," Holmes said. That decision came after an internal Pfizer report that Holmes said she never saw had expressed doubts about the reliability of Theranos' blood tests. The former Theranos CEO did take responsibility for adding the logo of Pfizer, a major drug maker, to a report extolling the effectiveness of Theranos' technology. Holmes testified the 2015 revenue prediction was based largely on an anticipated expansion into Walgreens stores that never materialized. Other evidence presented during the trial showed the company never came remotely close to hitting those targets. In documents distributed to prospective investors, Theranos forecast annual revenues of $140 million in 2014 and $990 million in 2015. In court documents unsealed shortly before the trial began in early September, Holmes' lawyers accused Balwani of subjecting Holmes to “intimate partner abuse." Balwani, who faces a separate fraud trial next year, has denied those allegations through his attorney.īalwani also drew up a series of financial projections that have been a focal point of the trial, according to Holmes. One major question remains in Holmes' testimony - whether she'll address her claim in legal filings that she was being secretly manipulated by her former lover and Theranos' former chief operating officer, Sunny Balwani, into unethical behavior. “They had more engineers than we did,” Holmes said. The company didn't tell Walgreens or anyone else to protect that trade secret from possible theft by a larger and established testing company, she claimed. Holmes testified that Theranos stayed silent because it had created an “invention” that could process small blood samples on conventional testing machines. Theranos never told its customers that it was using ordinary testing equipment instead of the Edison. ![]() Her testimony is at odds with previous witness testimony and prosecutors’ allegations that Theranos switched to conventional testing because of testing failures and other problems with the Edison. Holmes claimed that the Edison wasn’t designed to function in large clusters to process huge numbers of blood samples. Holmes said that when Theranos was about to start running tests in Walgreens stores, she intentionally had them sent to a central laboratory for conventional analysis instead. ![]() Walgreens terminated that partnership after issues with inaccurate test results and the discovery that Theranos was testing many of its samples on conventional diagnostic equipment - and not with Theranos’ Edison device, which was supposed to provide quicker and less expensive testing. ![]() Holmes denied that she intended to deceive anyone about the workings of its partnership with Walgreens, which aimed to install Theranos testing devices in 3,000 of the drugstore chain's stores. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |