I have read both. The conclusions of the study are bad enough, but the Telegraph article is even more misleading than the study, because it quotes some of the study researchers who are clearly biased.
The study itself has a number of problems. The methodology they used looks relatively unbiased, but the conclusions are pretty fantastical. The gains in maximal performance are cavalierly dismissed as not applicable in a real race. The submaximal performance test appears to be quite convoluted and subjective.
The study used the performance of the group in a single "race" up Mt. Ventoux as conclusive evidence of the ineffectiveness of rEPO. The results of this one race may have seemed like a “gotcha†moment for the researchers, but when you are going up against decades of real-world race data that indicate just the opposite, your one test loses most of its significance.
Based on this one small study, the researchers somehow feel justified to state an incredibly overreaching conclusion that goes against not only decades of true racing experience, but also conflicts with the majority of credible rEPO research done to date:
Additionally, the researchers’ anti-rEPO bias is clearly seen when they quote previous research done on the clinical safety of rEPO:
This statement is highly misleading and not at all applicable to this situation. All research on the safety of rEPO has been done on people with serious underlying health issues, such as kidney failure, HIV and cancer. It makes sense that these people do benefit from having thinner blood, but these effects are not applicable for healthy people. I am not aware of any research that has been done to date on the safety of rEPO on healthy people. Neither Amgen nor Janssen have done research in this area because healthy athletes are not officially their target market. Only sick people are (officially).
And that just represents some of the flawed elements of this study. There is a lot more scientific garbage in the Telegraph article that needs to be seriously challenged.