Pfizer said it will change the way it markets its prescription drugs in response to recent criticism of industry practices. The company announced that it would comply with new industry guidelines announced last week and add a few wrinkles of its own. Perhaps most significantly, Pfizer says it will wait six months after a drug is approved before launching any new ad campaigns. The company will use that time to educate doctors about the advantages -- and any possible risks -- involved with a new product. Pfizer also said it will air more disease awareness spots not tied to any specific product.
The move is the first significant development since PhRMA made its announcement last week. Reaction to the industry's initiative so far has not been positive, with many critics calling for stricter rules and, in some cases, a total ban on ads. The move is expected to trigger similar announcements from other pharma companies.
- see this story from the AP