It's not hypocritical, but it's a bit of an ethical contradiction. Just because the event organisers show ethical impartiality and obviously don't hold themselves up as an ethical company by the time they also run an arms trade event, doesn't excuse the fact there are ethical issues involved nor that they let their space out for an arms fair. Their ethical impartiality doesn't make them above reproach either.
All drugs have to be tested on animals to even get to clinical trials. I don't really understand the comparison there except to say there are ethical issues involved also. It's also fairly easy to invest in ethical companies, but that doesn't stop me from also investing in pharmacological companies at the same time. Ethics aren't black and white or yes and no and what's acceptable to some ethically is unacceptable to others.
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