Pfizer to Disclose Payments to US Physicians, Healthcare Professionals and Clinical Investigators

Pfizer IncPfizer Inc announced its plans to make publicly available its compensation of U.S. healthcare professionals for consulting, speaking engagements and clinical trials. The disclosure will include payments made to practicing U.S. physicians and other healthcare providers, as well as principal investigators, major academic institutions and research sites for clinical research. This makes Pfizer the first biopharmaceutical company to commit to reporting payments for conducting Phase I-IV clinical trials in addition to disclosing payments for speaking and consulting. This disclosure demonstrates Pfizer's commitment to increased transparency and public candor.

Pfizer is committing to share this information in order to provide greater clarity and understanding of the valuable scientific innovations and improved patient care that result from these collaborations with healthcare professionals.

"These collaborations are an essential part of medical progress," said Jeffrey B. Kindler, Chairman and Chief Executive Officer of Pfizer. "Simply put, without these collaborations, Pfizer would not be able to continue delivering the medical innovations that the global health community has come to expect."

In 2008, Pfizer collaborated with almost 8,000 clinical investigators to conduct more than 280 studies to better understand how our medicines can be safely and effectively used to the benefit of patients. Pfizer makes payments to investigators and research institutions to compensate them for the work done on the company's behalf. As part of this initiative, Pfizer will ensure that payments are posted in an accurate, clear and consistent manner that clearly demonstrates the recipient name or institution, the payment made and the service provided.

Pfizer's plans reflect the spirit of recent proposed legislation regarding payments to physicians in that it includes payments to practicing physicians and other healthcare providers as well as to principal investigators and institutions for Phase I-IV clinical trials sponsored by Pfizer.

Pfizer plans to publish its first annual online update on www.pfizer.com in early 2010. The report will include payments made from July 1, 2009, going forward.

Parameters under consideration include reporting payments to recipients whose aggregate amount exceeds $500 in a calendar year, including the value of non-monetary items, such as meals, that exceed $25 in value.

Specifically, this includes disclosing all payments to:

  • All practicing healthcare providers who can prescribe medicines;
  • Major institutions for ongoing clinical trials; and
  • All principal investigators and other entities for Phase I-IV clinical trials sponsored by Pfizer beginning after July 1, 2009.

The payments include those for:

  • Clinical development and commercial consulting;
  • Promotional speaking;
  • Phase I-IV clinical trials;
  • Investigator-initiated research; and
  • Meals and other non-monetary items.

"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, M.D., Professor of Psychiatry and Biobehavioral Sciences, Associate Dean, David Geffen School of Medicine at UCLA. "I believe policies such as these will help restore public confidence in the relationships physicians and academic medical centers have with the industry."

About Pfizer Inc
Pfizer Inc, founded in 1849, is dedicated to better health and greater access to health care for people and their valued animals. Every day, approximately 81,900 colleagues in more than 150 countries work to discover, develop, manufacture and deliver quality, safe and effective prescription medicines to patients.

Most Popular Now

AstraZeneca enters license agreement with KYM Bios…

AstraZeneca and KYM Biosciences Inc.* have entered into a global exclusive licence agreement for CMG901, a potential first-in-class antibody drug conjugate (ADC) targetin...

Pfizer receives positive FDA Advisory Committee vo…

Pfizer Inc. (NYSE: PFE) announced that the U.S. Food and Drug Administration's (FDA) Vaccines and Related Biological Products Advisory Committee (VRBPAC) voted that avail...

First nasal monoclonal antibody treatment for COVI…

A pilot trial by investigators from Brigham and Women's Hospital, a founding member of the Mass General Brigham healthcare system, tested the nasal administration of the ...

US FDA Advisory Committee votes to support effecti…

GSK plc (LSE/NYSE: GSK) announced that the US Food and Drug Administration (FDA) Vaccines and Related Biological Products Advisory Committee (VRBPAC) voted that the avail...

"Semantic similarity" leads to novel dru…

The words that researchers use to describe their results can be harnessed to discover potential new treatments for Parkinson's disease, according to a new study published...

Tumour cells' response to chemotherapy is driven b…

Cancer cells have an innate randomness in their ability to respond to chemotherapy, which is another tool in their arsenal of resisting treatment, new research led by the...

Engineered bacteria find tumors, then alert the au…

Combining discoveries in cancer immunology with sophisticated genetic engineering, Columbia University researchers have created a sort of "bacterial suicide squad" that ...

Nanosatellite shows the way to RNA medicine of the…

The RNA molecule is commonly recognized as messenger between DNA and protein, but it can also be folded into intricate molecular machines. An example of a naturally occur...

Gene and cell therapies to combat pancreatic cance…

Pancreatic cancer is an incurable form of cancer, and gene therapies are currently in clinical testing to treat this deadly disease. A comprehensive review of the gene an...

Digital twin opens way to effective treatment of i…

Inflammatory diseases like rheumatoid arthritis have complex disease mechanisms that can differ from patient to patient with the same diagnosis. This means that currently...

Pfizer's ZAVZPRET™ (zavegepant) migraine nasal spr…

Pfizer Inc. (NYSE: PFE) today announced the U.S. Food and Drug Administration (FDA) has approved ZAVZPRET™ (zavegepant), the first and only calcitonin gene-related peptid...

AI conjures proteins that speed up chemical reacti…

For the first time, scientists have used machine learning to create brand-new enzymes, which are proteins that accelerate chemical reactions. This is an important step in...