The Laura and John Arnold Foundation has announced a $3.6 million grant to Bioethics International in support of the New York City-based organization's efforts to increase the integrity and transparency of clinical drug trials.
The funds will enable BEI to expand its Good Pharma Scorecard, which in its first edition, released in 2015, ranked the twenty largest pharmaceutical companies and their new drugs based on the degree to which the companies disclosed the results of the clinical trials for those drugs. With the funding from the foundation, BEI will provide rankings for all new drugs, vaccines, biologics, and devices approved by the Food and Drug Administration. The expanded scorecard also will include information about a pharmaceutical company's willingness to disclose clinical trial data and results, an independent assessment of the reliability of the firms' disclosures, and other concerns related to healthcare innovation.
"To determine the value of a drug, we must know whether it is safe and effective as well as how it compares to other drugs on the market," said Jennifer E. Miller, Bioethics International CEO and an assistant professor at New York University School of Medicine. "Clinical trial transparency and integrity are critical to advancing patient and global public health as well as protecting research participants. We created the Good Pharma Scorecard to help advance these goals. The process involves setting standards, benchmarking the performance of drugs and companies against those standards, recognizing best practices, and incentivizing reform where needed. This helps drug companies, doctors, scientists, universities, payers, investors, regulators, and patient advocacy groups better ensure we have a transparent, trustworthy, and valuable healthcare innovation sector."