After a series of stinging investigations of individual doctors’ arrangements with drug makers, Senator Charles E. Grassley is demanding that the American Psychiatric Association give an accounting of its financing. The association is considered the voice of establishment psychiatry.
In 2006, the drug industry accounted for about 30 percent of the association’s $62.5 million in financing. About half of that money went to drug advertisements in psychiatric journals and exhibits at the annual meeting.
One of the doctors named by Mr. Grassley is Dr. Alan F. Schatzberg, the association’s president-elect. Dr. Schatzberg’s $4.8 million stock holdings in a drug development company raised the senator’s concern.
* New York Times July 12, 2008