Toronto, Canada (PRWEB) January 14, 2014
In recent years, growing suspicion about the pharmaceutical industry and its motives and methods in product development and promotion has led to unprecedented levels of public mistrust of the industry. This mistrust, fueled by concerns about the insidious impact of commercialization of research, has been further fed by reports of spectacular fines to the world’s biggest pharmas for illegal marketing activities, allegations of industry suppression of negative clinical trial results, and fears of “influence peddling” through physician payments of various sorts.
The Physician Payments Sunshine Act (“The Sunshine Act”) is the US Congress’s response to these concerns. The Physician Payments Sunshine Act (Sunshine Act) requires manufacturers of drugs, medical devices and biologicals that participate in U.S. federal health care programs to report certain payments and items of value given to physicians and teaching hospitals.
Manufacturers are required to collect and track payment, transfer and ownership information beginning Aug. 1, 2013. Manufacturers will submit the reports to the Centers for Medicare & Medicaid Services (CMS) on an annual basis. In addition, manufacturers and group purchasing organizations (GPOs) must report certain ownership interests held by physicians and their immediate family members. The majority of the information contained in the reports will be available on a public, searchable website.
These new reporting requirements have imposed a considerable burden on all concerned, including IRBs, sponsors, CROs, clinical investigators, and certainly government. Will this added regulatory burden prove effective in promoting more ethical research with improved outcomes for patients and society?
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