Pfizer’s (PFE) Little White Lie

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By Douglas A. McIntyre Updated Published
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R218533_855025US drug companies have a habit of misleading consumers and even physicians. It is a game they have played for decades. Usually they do not get caught. When they do a great cry goes up for reforming drug trials at the FDA and closer monitoring of pharma marketing practices.

Pfizer (PFE) is the latest alleged cheater. It could not leave well enough on sales of one of its most popular drugs so it may have decided to bend the rules.

According to The Wall Street Journal, "Pfizer Inc. marketers urged the suppression of medical studies that reached unfavorable conclusions about the effectiveness of the company’s big-selling drug Neurontin, according to internal Pfizer documents submitted in a lawsuit against the company." It amounted to a cover-up which probably began with the company consulting with Richard Nixon for advice.

As might be expected, Pfizer is fighting charges that it did anything wrong. It did not try to influence medical research. It did not burn documents of delete e-mails. No doctors were given envelops filled with $100 bills.

Pfizer’s problem is that no one will believe its defense. It has turned out that the alteration of drug testing or suppression of trial data has happened too many times before.

The trial information on vitamins and aspirin may even be wrong. Where was the FDA when those products came out?

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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