In this posting, we look at the Pharmaceutical Research and Manufacturers of America, who, per the SF Chronicle, have improved their practices through their own voluntary code of conduct. It’s latest claim to vastly upgrading ethical standards is they have banned the practice of gifting health professionals cups, pens, knick knacks and lunch dates. However, this won’t go into effect until the beginning of next year, apparently to give the drug companies time to empty out their stock of hats and whips.
What is the Pharmaceutical Research and Manufacturers of America? (PhRMA) It is the national trade association for most of America's pharmaceutical research companies and many of the nation's biotechnology companies. At last count, they represented 34 biotech companies and their subsidiaries, totaling 67 entities. It has at least twenty registered lobbyists on staff and has contracted with dozens of lobby and public relations firms.
And who is the CEO of PhRMA? Former Congressman, Billy Tauzin. As a Member of the House of Representatives (R-LA), he was the Chairman of the powerful House Energy and Commerce Committee. This committee was heavily involved in drafting the medicare drug benefit. Reportedly, he is being paid 2.5 million dollars annually.
And the President of the Board of Directors? Richard T. Clark, Chief Executive Officer and President of Merck. As a matter of fact the whole Board of Directors is a virtual Who’s Who of Big Pharma companies.
(Oh, and TV Host, Montel Williams is their National Spokesperson.)
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