OR WAIT 15 SECS
August 18, 2015.
New analysis of the U.S. government's Open Payments database, published in the August issue of Life Science Compliance Update, shows that industry spending on U.S-based clinical research dropped by 32 percent in the first year-over-year comparison since Open Payments data started to be collected.
The analysis shows that drug and device manufacturers reported about $1.5 billion in research payments from August through December 2013. This figure fell to around $1 billion during the same five-month time frame in 2014. As a result, physicians, academic institutions and third-party research organizations received nearly $500 million less in research funding during the comparable period in 2014, according to the article.