Full Disclosure Resulting in Pharma Companies Cutting Back on Marketing
From Ring of Fire:
New numbers are out that disclose the amount major pharmaceutical companies. The reports indicate that spending on physician speaking engagements is scaling back and analysts suspect that it may be a response to new financial disclosure laws.
According to new data collected as part of an ongoing report by ProPublica, most major pharmaceutical companies have reduced their budgets for promotional speaking by as much 50%. This is amid a slew of whistleblower lawsuits that have shown the companies as engaging in illegal marketing practices. These can include promoting drugs for uses that are not approved by the Food and Drug Administration (FDA), potentially putting patients at risk.
“Major pharmaceutical companies do not want the public to know how much money they spend pushing drugs to docs,” commented Bill Cash, an attorney with the Levin, Papantonio law firm who practices in the areas of product liability, personal injury and bad drug litigation.. “Big Pharma ghost-writes articles in the medical journals, funds studies on drugs without disclosure, and in this instance, spends millions getting physicians to shill their products.”
You can read the full article here at Ring of Fire.
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