Our experience has taught us that transparency in our operations can help to build trust with stakeholders. Transparency can also guard against corruption and unethical business practices. By listening and responding openly to our stakeholders’ concerns, we can improve our transparency and the way we do business.
Lilly believes that transparency of business practices that involve financial payments or other non-cash forms of value to physicians is essential for building trust with the public. Lilly also believes that fair compensation is due to healthcare professionals for services rendered in the drug development process and medical education. However, we understand that these relationships may be misconstrued if they are viewed as secretive. As a result, we have taken a number of steps to provide information on important aspects of how we interact with key partners in the pursuit of advancements in medicine.
In 2004, Lilly became among the first companies to voluntarily disclose to the public our U.S. clinical trial results – even unfavorable ones. And in 2007, Lilly became the first to publicly report the funding we provide in the U.S. to institutions in the form of educational grants and charitable contributions in support of medical education, patient education, and other activities that we believe increase healthcare knowledge and improve patient care. Since 2008, Lilly also has disclosed financial support to patient organizations based in Europe.
In 2009, Lilly launched our Faculty Registry, an online listing of payments made to external U.S. healthcare professionals contracted to perform educational programs and provide us with advice based on their experience and expertise. In 2011, we began disclosing research and other payments as well as non-cash forms of value (such as business meals and business travel expenses) we provide to all U.S.-based physicians in the Lilly Physician Payment Registry.