Friday, April 1, 2011

Pfizer (PFE) Pays Physicians, Hospitals $177 Million for Services

Responding to criticism about the lack of transparency concerning payments made to doctors, hospitals and other health care professionals, Pfizer revealed the payments they made for 2010, which amounted to $177 million.

Payments were made for a variety of services, including research and speeches.

Doctors have long been paid to help pharmaceutical companies get out the word to their fellow doctors about the drug offered by the firm.

Under the Affordable Care Act, companies must disclose payments or or other means of compensation they offer to hospitals and physicians in the U.S., beginning in 2013.

Pfizer has started early, saying they'll continue to disclose compensation on a quarterly basis.

Pfizer closed Thursday at $20.31, dropping $0.03, or 0.14 percent.

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