Wednesday, December 31, 2008

Foundation Fights against Pfizer's Theft of Trade Secret and WINS!

Most companies and individuals, despite the fact that they have been wronged, cannot go up against monetary giants such as Pfizer due to lack of resources which causes inequities in obtaining a fair legal process. Therefore, companies like Pfizer continue to get away with scientific and business misconduct without any repercussions.

Not this time.

Pharmaceutical company, Pfizer was found guilty of stealing trade secrets from a non-profit medical foundation. Dr. Dennis Mangano, head of Ischemia Research and Education Foundation had to spend $15 million to fight against Pfizer’s unethical practices. Pfizer stole trade secrets, had unauthorized access to the foundation’s database and destroyed evidence pertinent to the trial. The verdict awarded the foundation $38 million.

Will this guilty verdict and a payment of $38 million be sufficient enough to motivate Pfizer to stop engaging in unethical business and scientific practices? Or will Pfizer just consider this their cost of doing business? What do you think?

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