Uncategorized

The Eshelman Tapes

PPD CEO Fred Eshelman’s animosity towards federal oversight might be explained by his having to appear at a Congressional hearing earlier this year to explain why his company, PPD Inc, did not inform the FDA about fraud in a clinical study overseen by PPD for $20 million. The antibiotic drug Ketek, made by Aventis, received FDA approval, based in part on the fraudulent study, even though the FDA had become aware of the fraud through its own inspections. Use of Ketek was restricted after some patients experienced serious liver problems, some fatal. Eshelman claimed that PPD had no obligation to inform the FDA of the fraud due to its contractual relationship with Aventis now known as Sanofi-Aventis. Chris Fitzsimon wrote yesterday about RightChange the 527 founded and funded by Fred Eshelman: A strange 527 in North Carolina. Eshelman owns 8.6 million shares of PPD Inc (PPDI). A rise of just 33 cents in PPD stock (1%) pays for the $2.73 million he has put into RightChange. It’s not small change and it may be his right but that doesn’t make it right.

YouTube Preview Image Fred Eshelman Congressional Testimony 1 of 3

Not much in the first clip. It gets more interesting in the second two clips:
YouTube Preview Image Fred Eshelman Congressional Testimony 2 of 3

YouTube Preview Image Fred Eshelman Congressional Testimony 3 of 3

2 Comments

  1. James

    October 14, 2008 at 1:40 pm

    What a lyin’ sack of crap. One can only hope that his slime has extended to the value of his half-assed company.

    PPD is obviously a chip off the old stinking block that is its CEO.

  2. lincoln

    February 24, 2009 at 5:38 pm

    This guy is a hot-head and obvious liar.
    His whole operation shoulg be shut down because of some serious HIPAA violations. GSK, Aventis, ConjuChem, Genetech
    and others investigator files are left out in the open and un-guarded. Files are handled and copied by people who are not trained in the HIPAA. The problem is anyone can walk out with one or several files. The data could go missing or altered in some way.
    HIPAA in general requires all material of this nature be locked up when unattended.
    Congress should not have stopped at the Terek issue. Someone in government needs to pay them and their data another visit.