Big Pharma spends big on doctors, reaps profits

By Esther Han
Updated January 26 2018 - 9:53am, first published January 14 2018 - 9:13pm
The logo of AstraZeneca is seen on a medication package in a pharmacy in London April 28, 2014. U.S. drugmaker Pfizer Inc is working on its next move in a potential $100 billion bid battle for Britain's AstraZeneca Plc after having a two bids rejected, as deal-making grips the healthcare industry. Pfizer said on Monday it made a 58.8 billion pounds ($98.9 billion) bid approach to AstraZeneca in January and had contacted its British rival again on April 26 seeking further discussions about a takeover. REUTERS/Stefan Wermuth (BRITAIN - Tags: BUSINESS HEALTH)
The logo of AstraZeneca is seen on a medication package in a pharmacy in London April 28, 2014. U.S. drugmaker Pfizer Inc is working on its next move in a potential $100 billion bid battle for Britain's AstraZeneca Plc after having a two bids rejected, as deal-making grips the healthcare industry. Pfizer said on Monday it made a 58.8 billion pounds ($98.9 billion) bid approach to AstraZeneca in January and had contacted its British rival again on April 26 seeking further discussions about a takeover. REUTERS/Stefan Wermuth (BRITAIN - Tags: BUSINESS HEALTH)
The Hilton hotel 255-269 Pitt Street, Sydney. 27th March, 2012. Photo: Kate Geraghty
The Hilton hotel 255-269 Pitt Street, Sydney. 27th March, 2012. Photo: Kate Geraghty

Sponsoring "educational activities" for doctors is so financially lucrative that pharmaceutical companies are spending upwards of $200,000 on a single event, sparking fresh calls for a ban on industry funding.