Pfizer ordered to pay for stealing drug secrets
Associated Press Wednesday, December 24, 2008
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"The company stands by the belief that its conduct was proper," Pfizer said in a written statement Tuesday. "Pfizer continues to believe that it was unjustly caught in a crossfire between (the foundation) and one of its former employees." Hsu's lawyer did not immediately return calls seeking comment.
The lawsuit also claims that Pfizer and Hsu destroyed evidence when confronted about the data theft, said Mark Geragos, one of the foundation's lawyers. "They hired Hsu on the pretext of his expertise, but it was all bull," Geragos said. "They just wanted access to (the foundation's) database. That database is like the Holy Grail."
Geragos said the company and Hsu could also face punitive damages that could increase the verdict to more than $120 million. Attorneys in the case are expected to appear for post-trial motions Jan. 16 before Judge Gregory Ward, who will decide whether to assess more damages.
The foundation's head, Dr. Dennis Mangano, said Monday that spending $15 million in legal fees instead of accepting a financial settlement was worth it. "It's very risky going against a big company like Pfizer," Mangano said. "The right thing has been done."