Pfizer is planning 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, according to the New York City-based Pfizer. The company also will report payments for conducting phase I-IV clinical trials, in addition to disclosing payments for speaking and consulting.
"These collaborations are an essential part of medical progress," said Jeffrey B. Kindler, chairman and CEO of Pfizer. "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 and made payments to investigators and research institutions to compensate them for the work done on its behalf.
As part of this initiative, Pfizer said it will ensure that payments are posted in an accurate and consistent manner that demonstrates the recipient name or institution, the payment made and the service provided. The pharmaceutical company said it plans to publish its first annual online update on its website 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 starting July 1.
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.