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Pfizer will disclose publicly its compensation of U.S. health-care professionals for consulting, speaking engagements, and clinical trials by early next year on the company's Web site.
New York-Pfizer will disclose publicly its compensation of U.S. health-care professionals for consulting, speaking engagements, and clinical trials by early next year on the company's Web site, according to a prepared statement from the company.
The disclosures will include payments made to practicing U.S. physicians and other health-care providers, principal investigators, major academic institutions, and research sites for clinical trials sponsored by the company. According to the statement, Pfizer is sharing this information to provide greater clarity and understanding of the valuable scientific innovations and improved patient care that result from collaborations with health-care professionals, as well as to reflect the spirit of the recent proposed legislation by the Pharmaceutical Research and Manufacturers of America regarding payments to physicians.
"Pfizer has made an important step forward with this extensive disclosure policy. The release of financial information about consulting, education, and clinical research activities sets a standard for transparency in the pharmaceutical and medical device industries," said Andrew F. Leuchter, MD, professor of psychiatry and biobehavioral sciences and associate dean of the David Geffen School of Medicine at the University of California, Los Angeles. "I believe policies such as these will help restore public confidence in the relationships physicians and academic medical centers have with the industry."
This effort makes Pfizer the first biopharmaceutical company to commit to reporting payments for conducting phase I to IV clinical trials in addition to disclosing payments for speaking and consulting, according to the statement.