I found getting my head around today's Bloomberg article, Glaxo Paid Doctors $15 Million Before Promised End to Fees, pretty difficult.
Admittedly, when it comes to figures or counting backwards I'm no Stephen Hawkin - so, I had to sit with this for a while to try and fathom out just what Glaxo were playing at here.
In 2013, Glaxo chief, Andrew Witty, announced that it was implementing a new global marketing strategy to transform the way it sells and markets drugs to both doctors and patients.
GSK, in 2013, said...
- They would be stopping direct payments to physicians who speak about the Company’s drugs, or diseases treated by its drugs, to other doctors and healthcare professionals who write or influence prescriptions and ending payments for doctors to attend medical conferences.
GlaxoSmithKline Plc paid U.S. doctors about $15 million in 2014 to promote and learn about its products, showing little change from the previous year...
The total includes consulting and speaking fees, as well as meals and travel for thousands of doctors. The largest consulting payment $195,000 went to Joseph Goldstein, a professor of biomedical research at the University of Texas Southwestern Medical Center, (above) according to Glaxo’s figures.
In 2014, Thomas Yunger, a pulmonologist in Dayton, Ohio, (above) was the highest-paid speaker for Glaxo, with $75,450 in speaking fees and $10,853 for consulting, travel, food and beverage. Yunger couldn’t be reached for comment, and Goldstein declined to comment.
**Johnny then steals more ice cream**
Naughty, naughty Glaxo.
Take a look at the figures again for 2014. $15 million to promote and learn about its products. including consulting and speaking fees, meals and travel for thousands of doctors. This coming after a company statement in late 2013 stating that they were implementing changes!