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Mea Culpa by a Big Pharma CEO

2005-07-13-rost.jpgPfizer marketing vice-president Dr Peter Rost (pictured) has published a review of a new book by his colleague Hank McKinnell, the CEO of Pfizer. Dr Rost has come to prominence for speaking in favour of free trade in pharmaceuticals which would allow US citizens to legally import drugs from Canada and Europe. He writes:

Pfizer's CEO, Dr. Hank McKinnell has written an astonishing book in which he admits that he doesn't always believe in what he's saying (p. 11), that drugs from Canadian pharmacies are safe (p. 69) and that high US drug prices have nothing to do with past R&D expenses (p. 46)...

Dr. McKinnell starts his book with the surprising confession that he doesn't always believe in what he's saying. "They listened to my logic, but I could tell they weren't convinced, and to tell you the truth, I wasn't either." (p. 11).

He also doesn't shy away from embarrassing facts, "Branded drug prices are anywhere from 25-100 percent more expensive in the United States." (p. 50) He even admits, "Drugs from Canadian pharmacies are as safe as drugs from pharmacies in the United States." (p. 69).

But his impressive mea culpa doesn't stop there. He slams everyone who makes a connection between drug prices and R&D. "It's a fallacy to suggest that our industry, or any industry, prices a product to recapture the R&D budget spent in development." (p. 46)...

Dr. McKinnell ends his book with a wonderful quote by Gandhi, for those who desire change. "First they ignore you. Then they laugh at you. Then they fight you. Then you win." (p. 193) Dr. McKinnell just doesn't realize that he has become "them."

Wednesday, July 13, 2005

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