BizJournals Portfolio
Apr 01 2010 7:00am EDT

Pfizer Pays Docs $35 Million to Advise, Speak

Pfizer Inc. paid around $35 million to doctors in the second half of last year to test its medicines, make speeches and lead forums sponsored by the drug company.

The world's biggest drug maker is divulging for the first time how much it pays docs for various purposes, a practice that's heavily criticized by public watchdogs and politicians such as Iowa Senator Charles Grassley.

The disclosures aren't exactly voluntary. They're being made after a record $2.3 billion settlement with the government last September after prosecutors accused the company of promoting drugs to doctors for unapproved uses.

The payments vary in size and type of doctors. Santa Monica, California, anesthesiologist Dr. Gerald Sacks raked in more than $150,000 for "expert-led forums." All but $4,000 of the payments were in cash. The balance was paid in non-cash compensation like travel reimbursement and meals, according to Pfizer's Web site.

Most doctors were paid far smaller amounts. In all, almost 4,900 doctors, practices and other health professionals were paid.

The company paid docs almost $20 million in total for speaking and advising fees as well as meals and travel reimbursement. A little more than $15 million was paid to doctors who run human trials of Pfizer's treatments. The next disclosure will be a year from now.


Brett Chase covers health care for Portfolio.com and writes the blog Heavy Doses.

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.


Connect With Portfolio.com

Come on, like us—you know you want to.

Follow us and if you're an innovative entrepreneur, we'll return the favor.

Today's top stories, conversation starters, and the back nine business bites.

spotlight on

Slideshows

500 Startups Hits New York

Dave McClure's brainchild makes its way to New York and introduces East Coast money folks to some intriguing new companies. View Slideshow