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REP. DINGELL's OVERSIGHT SUBCMTE. DEC. 19 GENERIC HEARING AND REPORT: FOLLOW-UP

Executive Summary

PHARMAKINETICS FORMER PRESIDENT/CEO STEVEN WOODMAN IS NOT SUBJECT of a Baltimore grand jury investigation, Woodman's lawyer Robert Plotkin (D.C. firm of Washington Perito & Debuc) maintained in a Jan. 10 letter to "The Pink Sheet." Woodman "was not, and has never been, a target of the Baltimore grand jury investigation or of any other grand jury investigation," Plotkin said. Furthermore, he continued, "Mr. Woodman has never received any written or oral communication, directly or indirectly, advising that he is a target of such an investigation, and no law enforcement official has ever reported to the contrary." A chart in "The Pink Sheet" (Dec. 24, p. 6-10) summarizing both hearing testimony from FDA Generic Compliance Chief Paul Vogel and a subcommittee report mistakenly implied that Woodman is under investigation. The subcommittee briefing paper, released at Rep. Dingell's Dec. 19 generic drug hearing, states that PharmaKinetics and its "former chief scientific officer have both been informed that they are targets of the Baltimore grand jury investigation." Woodman stepped down from the president and CEO positions in November ("The Pink Sheet" Nov. 12, T&G-10) and is no longer a full-time employee of PharmaKinetics; however, he has been a "business development" consultant for the firm during its transition period. PharmaKinetics disclosed in a press statement last August that the company and then-Chief Scientific Officer Mark Perkal, PhD, "are now targets" of the criminal investigation relating to the generic drug scandal ("The Pink Sheet" Aug. 13, T&G-1). Perkal resigned from PharmaKinetics in November and is no longer either an officer or a full-time employee, although he has worked with the firm on a consulting basis.
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