Pfizer: $177 million Spent on Medical Purposes

Pfizer: $177 million Spent on Medical Purposes

To make sure that there is an adequate transparency in the system, a joint effort by the drug makers has been initiated, according to which each one of them will be required to disclose their expenditure spent on the training programmes and other measures, for every year after 2012.

The step has come as a follow-up of massive criticism that accuses that promoting unauthorized access to drugs and to give more importance to the drugs manufactured by influential pharmaceutical giants.

Following the trend, two drug manufacturers have disclosed the total incurred costs during 2010.

The bosses at the Pfizer Inc. and GlaxoSmithKline PLC have claimed that they have paid whopping $177 million and $85 million respectively for advanced researches, seminars, consultations, trials and other purposes.

Dr. Steve Romano, Senior Vice President of the Pfizer's medicines development group, stated: "Pfizer depends on the medical and scientific community for a broad range of activities, from conducting clinical trials to providing insight about patient care needs”.

The company has given detailed description of its expenses voluntarily and has also promised to do the same for every quarter from now onwards.

The company is one of the major sharks in the pharmaceutical market and is the manufacturer of world’s most selling drug, cholesterol fighter Lipitor.


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