Mea Culpa by a Big Pharma CEO

Dr. Peter Rost, Pfizer's Vice President of Marketing, Reviews Pfizer CEO

Dr. Hank McKinnell's New Book 'A Call to Action'

Jul 05, 2005, 01:00 ET from Dr. Peter Rost

    SHORT HILLS, N.J., July 5 /PRNewswire/ -- Pfizer's CEO, Dr. Hank McKinnell
 has written an astonishing book "A Call to Action" in which he admits that he
 doesn't always believe in what he's saying [11], that drugs from Canadian
 pharmacies are safe [69] and that high US drug prices have nothing to do with
 past R&D expenses [46].  Dr. Peter Rost, Vice President of Marketing for
 Pfizer reviews this enlightening new title.
     Dr. McKinnell writes that "perhaps pharmaceuticals represent too low a
 percentage of total healthcare spending"[45] and he calls for "price controls
 to be lifted" around the world [64], because "It is time for Canadians and
 others to pay their fair share."[65] He also calls for a doubling of drug
 patent life [185] which would result in a drastic reduction of new, low-priced
 generic drugs.
     Dr. McKinnell begins 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."[11]
     Dr. McKinnell doesn't shy away from embarrassing facts, "Branded drug
 prices are anywhere from 25-100 percent more expensive in the United
 States."[50]  He even admits, "Drugs from Canadian pharmacies are as safe as
 drugs from pharmacies in the United States."[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."[46]
     Finally, in an astonishing intellectual somersault, Dr. McKinnell claims
 that "price controls always make prices higher in the long run."[64]  And
 since he wants to give people lower drug prices, by eliminating price
 controls, he writes, "Starting with pharmaceuticals, I call for price controls
 to be lifted in Canada and elsewhere."[64]
     For Dr. Rost's full review of "A Call to Action," please see attachment.
     Dr. Peter Rost is a Vice President of Marketing at Pfizer. The views
 expressed here are Peter Rost's and Hank McKinnell's own opinions.
     This press release distributed by PRWEB ( ), a
 service of eMediaWire.
      CONTACT:  Dr. Peter Rost
                (973) 467-4376

SOURCE Dr. Peter Rost