Reporting drugco payments to doctors

The lede:

Three of the country’s top-10-selling drugmakers have pledged to publicly disclose their financial relationships with physicians. The move comes ahead of bipartisan congressional legislation, the Physician Payments Sunshine Act, that would mandate such reporting. The bill is widely expected to pass in some form next year.

Eli Lilly and Co. in September said by the second half of 2009 it would report payments to its physician speakers and advisers. By 2011, the Indianapolis-based drugmaker would publicly report all physician compensation that exceeds $500 a year, including food, entertainment, gifts, travel and continuing medical education, as specified in the Sunshine Act.

“Physicians perform some extremely valuable services for not only Lilly but for the entire pharmaceutical industry, and you hate to have that relationship diminished by questions of possible distrust about that relationship,” said Eli Lilly spokesman Ed Sagebiel.

The whole shebang.