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Pharmafiles News 🍍 September 7, 2023 🍍 Pfizer Whistleblower Exposes Massive Financial Deals with Government Officials
More than $200 Million transferred between Pfizer and Government Officials in just five countries between 2019-2021!
Former Pfizer’s Director of Global Compliance Analytics, Frank Han is throwing some serious shade at Pfizer, alleging that they have been up to no good. It's a spicy story with allegations of massive financial transfers involving government officials and Pfizer's corporate antics.
🍍 Who is Frank Han?
Frank Han worked for Pfizer from May 2017 until November 2022. He was a model Pfizer employee, initially hired as an Associate Director and Group Lead for Clinical Programming and later promoted to Director of Global Compliance Analytics in 2018, a role he held until his termination.
In August 2021, Frank received a favorable performance review from his supervisor, Tara Palesh, for successfully completing two innovative projects.
However, Frank's career took a turn in November 2021 when he developed a new algorithm to analyze Pfizer's global external funding sources to detect potential fraud.
🍍 What did he uncover?
Through this analysis, he discovered that Pfizer had spent over ten times more money on "Potentially Influential Government Officials (PIGO)" and "Corporate Sponsorships" in China than in other countries from Q2 2019 through Q3 2021.
Specifically, Pfizer spent a staggering $168 million in China, $12 million in the US, $11 million in Canada, $7.5 million in Russia, and $7.1 million in the UK during this period. Of the funds spent in China during this period, $138 million went to corporate sponsorships, compared to only $2 million for corporate sponsorships in the US. (Just to clarify, PIGO and Corporate Sponsorship are closely related categories because many Government Officials own
shell private corporations as a side gig for their income)
🍍 Why is this alarming?
First and foremost, we're talking Pfizer here, the pharmaceutical giant, and they seem to be transferring cash to the Federal Government Officials like it's going out of style. What in the world are they buying? Do the officials from the Federal Government have a secret stash of Pfizer-branded umbrellas, or maybe they get to ride in golden vaccine-mobiles?
I mean, they're dropping over $200 million just for five countries! And get this, it's only for the period from Q2 2019 through Q3 2021. Can you imagine what would happen if we looked at a whole decade? I wouldn't be shocked if it skyrocketed into the billions!
Yes, you heard me right, billions for our dear Federal Government Officials. Now, does anyone else smell a hint of conspiracy theory in those mandated vaccines? 🤔
Here’s New Zealand's Prime Minister, Chris Hopkins mandating vaccines and then telling people that it wasn’t forced.
In the context of the 2020 US election, on record, Pfizer officially contributed an amount just shy of $1 million to federal candidates. This sum was allocated equitably between Democratic and Republican recipients. Pfizer's intent, it appears, was to signal a commitment to impartiality and transparent political contributions, evenly distributing resources across both major political parties.
However, as per Frank's analysis, they exceeded this amount by more than tenfold in the United States during the period from Q2 2019 to Q3 2021, reaching a total of $12 million in the US (alongside $11 million in Canada, $7.5 million in Russia, and $7.1 million in the UK).
What's even more disconcerting is Pfizer's astonishing expenditure of $168 million in China. Now, allow me to don my pharmaceutical hat and elucidate why this is cause for concern. You see, China accounted for only 6% of Pfizer's total revenue in the years 2018-2020, as documented in Pfizer's 2020 Annual Report filed with the SEC. [SOURCE]
The alarming discrepancy between China's revenue, a mere fraction of that of the USA, and their alarmingly exorbitant expenditures on "Potentially Influential Government Officials" and "corporate sponsorships" is a cause for grave concern and warrants close scrutiny.
Throughout my tenure as a commercial head in the Big Pharma, I held the responsibility of overseeing operations across multiple countries.
One of the key performance indicators (KPIs) I closely monitored was the operating margin, which assesses the ratio of expenses to earnings. What is notably concerning in this scenario is that China, despite generating significantly less revenue (a mere tenth of what the USA generates), is allocating expenditures at a rate ten times greater. The operating margin constitutes an integral component of every Country Head's KPIs, and it's important to emphasize that when such discrepancies occur, they typically receive full endorsement from higher-ups (including Bourla and his Board).
One must contemplate the rationale behind Pfizer's substantial financial transfers to governments and corporations in China, despite the comparatively lower revenue generated in that region. It would not be surprising if individuals like Dr. Fauci and associates considered China's relatively lax regulatory environment as a means to facilitate pharmaceutical fund movements.
🍍 None of these numbers are shown under Sunshine Act!
What's also noteworthy about these financial transfers is that they do not fall within the purview of the Sunshine Act. For those unfamiliar with the Sunshine Act, formally known as the Physician Payments Sunshine Act, it constitutes a U.S. law designed to enhance transparency concerning financial interactions between healthcare providers, such as physicians, and pharmaceutical companies or medical device manufacturers. Under this act, these companies are mandated to disclose any payments, gifts, or other items of value provided to physicians or teaching hospitals.
The underlying objective of the Sunshine Act is to mitigate potential conflicts of interest stemming from these financial associations. By disseminating this information publicly, patients and other stakeholders gain greater insight into potential influences on healthcare providers' decision-making processes.
Here is an example of Australia's Sunshine Act, where all exchanges of value between Healthcare Professionals and Pharmaceutical companies are meticulously documented and made accessible. You can access the link here.
I conducted a brief analysis of all Health Care Professionals who received funds from Pfizer, and here are the results I uncovered.
Wow! The Dean and Head of Adelaide's Medical School at the University of Adelaide seems to be cashing in quite handsomely from Pfizer!
I wonder if he supports the experimental mRNA vaccine?
🍍 Frank Han reported these findings to his supervisors and got fired.
Back to the story: Frank then reported these money transfers to his supervisors, but nothing came of it, or at least, he wasn't let in on the secret.
Naturally, Frank raised the alarm about possible violations of the Foreign Corrupt Practices Act. However, instead of receiving applause, he got the cold shoulder. His bosses, including Tara Palesh, Ben Brackbill, and Steven Kim, apparently didn't think much of his findings.
They didn't even give him a gold star for his detective work. Feeling like he was caught in a corporate merry-go-round, Frank took matters into his own hands and dropped a bombshell on the Securities and Exchange Commission (SEC) on October 22, 2022, alleging that Pfizer had been playing fast and loose with the rules.
A few weeks later, during a virtual meeting with Palesh and Pfizer HR representative Kisha Daniels, Frank was abruptly informed of his termination on November 3, 2022.
As of now, Pfizer hasn't disclosed their side of the story. I believe Pfizer will use the "Disgruntled Employee" playbook to discredit Frank Han's allegations, or they might opt for an out-of-court settlement.
One thing is certain, though. This story isn't just about one employee's allegations; it sheds light on the role of whistleblowers in exposing corporate shenanigans and underscores the need to protect those who dare to speak up. Moreover, it leaves us all pondering Pfizer's relationship with government officials and what truly transpires behind those closed boardroom doors.
I'll be closely monitoring how this case develops, but I suspect Pfizer will do everything in its power to bury this case as swiftly as possible, given the revealing details of money exchanges between government officials and Pfizer!
For those interested in reviewing the complete case details, you can access the link here. (Oops!, I shared the wrong link earlier! fixed now!)
Signing off for now,
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