Senators say public should know when pharmaceutical makers give money to doctors
Pharma Compliance Alert, September 12, 2007
Federal legislation being introduced by Senators Chuck Grassley and Herb Kohl will require pharmaceutical companies to disclose how much money they give to doctors through payments, gifts, travel, and other means.
The Physician Payments Sunshine Act builds on similar initiatives in Minnesota, Vermont, Maine, and West Virginia and would apply to manufacturers with $100 million or more in annual gross revenues. Penalties for not reporting payments would range from $10,000 to $100,000 per violation. The legislation also requires the HHS secretary to create a Web site and post payment information in a clear and understandable manner.
Because the proposed law does not contain a preemption clause, pharma companies will still have to comlpy with reporting requirements for individual states as well.
Click here to read the complete press release.
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