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CNN BREAKING NEWS

Waksal Pleads Guilty to Obstructing Justice

Aired October 15, 2002 - 10:50   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

LEON HARRIS, CNN ANCHOR: Sam Waksal speaking out after entering his plea of guilty.
SAM WAKSAL: I regret more than anything else having involved my daughter Eliza (ph), who has done nothing wrong and who has suffered so much as a result of my actions.

The media attention brought about because of me has cast a shadow on ImClone, a wonderful company with talented and dedicated scientists and employees. These are people who are developing through their discoveries great drugs for the future.

Most importantly, focus has been taken away from Erbitux, an important drug that I believe will be approved to help treat the millions of cancer patients who are waiting for it. That was my original goal, and I know it will be achieved.

QUESTION: Did you tip off Martha Stewart? Did you tip her off? Will one of the attorneys talk to us, please?

HARRIS: Sam Waksal there, speaking very briefly to reporters who are assembled outside the federal court in New York. He has just entered moments ago, we understand, a guilty plea to the charges against him, we understand, in the ImClone insider trading scandal. As you heard him say there, that what he did was something that he hopes will protect his daughter and I believe also his father, who is also somewhat related to the charges against him. They were also trading stock that day that he allegedly made some tips to them to get rid of their stock. So the big question remains, he did not mention in his remarks what will happen with the case against Martha Stewart who is also, as you know, tied into the case as well.

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