Press Release

Statement on Physician Payments Sunshine Act

PhRMA August 1, 2013

WASHINGTON, D.C. (July 31, 2013) – Pharmaceutical Research and Manufacturers of America (PhRMA) Senior Vice President Matthew Bennett issued the following statement today:

“PhRMA is committed to the principles of the Sunshine Act and continues to believe that careful implementation is essential to ensuring that Sunshine fulfills its objective of usable, transparent, and understandable sharing of information.

“Biopharmaceutical research companies have invested significant resources to ensure compliance with the August 1 data collection deadline. Through efforts such as physicians keeping their National Provider Identifier (NPI) current, we can better ensure that the data is accurate when it is ultimately released by CMS in September 2014. 

“Also crucial to the success of the Sunshine Act is ensuring that proper context is given for the data so that the public can understand how these financial relationships contribute to new medical treatments and patient care. 

“For example, the discovery of new and improved medicines is dependent on research collaborations between physicians and biopharmaceutical companies. Clinical trials sponsored by biopharmaceutical companies have led to breakthroughs for people suffering from cancer and other life-threatening diseases. Biopharmaceutical companies also help keep physicians current on the latest treatments, new indications, and emerging safety risks. In turn, physicians share first-hand knowledge with biopharmaceutical professionals about patient experiences with their medicines – feedback that is critical to improving patient outcomes. 

“Patients rely on advances in medicines to help them live better, healthier lives, and achieving this medical progress requires collaboration between biopharmaceutical research companies and physicians. With proper context, patients can discover how these collaborations are working for better health and better medicine.”

The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research and biotechnology companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier, and more productive lives. Since 2000, PhRMA member companies have invested over $500 billion in the search for new treatments and cures, including an estimated $49.5 billion in 2011 alone.

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