Tuesday, July 15, 2008
Grassley Demands From Nonprofit Association Accounting of its Financing from Pharmaceutical Industry
On July 12, 2008, the New York Times reported that Senator Grassley is asking for an accounting of financial and other arrangements between the nonprofit American Psychiatric Association and the pharmaceutical industry. Here is a quote from the article:
“I have come to understand that money from the pharmaceutical industry can shape the practices of nonprofit organizations that purport to be independent in their viewpoints and actions,” Mr. Grassley said Thursday in a letter to the association.
In 2006, the latest year for which numbers are available, the drug industry accounted for about 30 percent of the association’s $62.5 million in financing. About half of that money went to drug advertisements in psychiatric journals and exhibits at the annual meeting, and the other half to sponsor fellowships, conferences and industry symposiums at the annual meeting.
This weekend in Chicago, the psychiatry association’s board will meet behind closed doors, in part to discuss how to respond to the increasingly intense scrutiny and questions about conflicts of interest.
For the entire story, see Psychiatric Group Faces Scrutiny Over Drug Industry Ties in the July 12, 2008, issue of the New York Times.