Metals and Mining

Sens. Move To Block Drugmakers From Mining Rx Data

 

MATTHEW PERRONE

WASHINGTON (AP) — Drug companies would no longer be able to mine pharmacy records to track which doctors are prescribing their medications, under a proposal unveiled Thursday by two Senate Democrats.

The amendment to the Senate health care bill would effectively ban pharmaceutical data mining, the drug company practice of buying prescription records to target sales pitches to doctors.

Sens. Herb Kohl of Wisconsin and Dick Durbin of Illinois say the measure will combat "harassing sales practices" and "restrain undue influence" of pharmaceutical salespersons.

Companies like IMS Health Inc. and Verispan LLC have built multimillion-dollar businesses around gathering prescription data and selling the information to pharmaceutical companies. Pfizer Inc., Merck & Co. Inc. and others use the data to identify doctors who are prescribing their drugs, as well as treatments from other companies. When salespeople visit a doctor's office they tailor their presentation to the doctor's individual prescribing habits.

Still, the amendment from Kohl and Durbin faces an uphill climb to become law. The Senate has been debating the health care bill since the beginning of last week and is expected to resume Monday. The House of Representatives already passed its version of the bill, which opted to study the issue of data mining, not limit it.

A spokesman for Norwalk, Conn.-based IMS said that interfering with data mining "has the potential to harm patients," since the information is used by federal agencies to track patient safety.

TheStreet Premium Services

Jim Cramer
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
OptionsProfits
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn More
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
Dow Jones S&P 500 NASDAQ 10-Year Note
12,393.45 1,310.33 2,827.34 15.81
Oil *
101.78
DOWN
26.41
DOWN
2.99
DOWN
10.02
DOWN
0.44
10 Yr
1.58%
SPDR Gold
151.62
-0.21%
-0.23%
-0.35%
-2.71%
Data delayed 20 minutes

Top Stories and Tools

Articles From

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy.
Podcasts

Connect with TheStreet