Well, that’s the question posed in this very thoughtful and enlightening story — Is Sunlight Always the Best Disinfectant? Are Financial Conflicts of Interest in Research Inherently Unhealthy? — by Michael Werner and Ari Stern at Science Progress.
As they note, one of the key problems with attempts to regulate or build effective policy regarding financial COI, is that it remains unclear what amount of money constitutes a conflict. In the US,
However, nearly all policies identify a specific dollar amount as the threshold for a potential financial conflict of interest, which must therefore be reported. The AAMC found that 95 percent of institutions’ policies based their reportable compensation requirements on federal guidelines, which require disclosure of ties of $10,000 or more.
Federal law does not prohibit—or even define—a conflict of interest. Rather, FDA regulations address issues surrounding financial disclosure by investigators.
But even if there are appropriate disclosure mechanisms in place (and one can settle on a dollar figure – which is problematic), these may be insufficient, or worse yet, misleading.
In fact, some published analyses of university financial disclosure policies cast doubt on whether a disclosure-based approach will effectively protect research participants and research integrity. These studies raise questions about whether such policies would truly help potential research participants make better-informed decisions as to whether to participate in a research project, or effectively deter researchers from accepting problematic financial conflicts.
And in terms of protecting research subjects by helping people be more informed about researcher interests:
Subsequent studies further indicate that the disclosure of a researcher’s financial interests in a clinical trial may not affect a patient’s willingness to participate in the study, unless the researcher could earn money contingent upon the trial results.
So what then, would be an appropriate way forward? Werner and Stern argue that regulatory mechanisms are still important, but they have to be enforced. More challenging, however, is determining actionable and consistent definitions of COI , and building consensus on what actually constitutes a financial COI. And this will, they argue convincingly, only be resolved with in-depth empirical research into the full range of interests at stake in medicine and science and the diversity of potential conflicts that can arise. Only then will it be possible to development and test practical tools to mitigate conflicts in bioscience and university research more generally.
Bryn Williams-Jones