Today in NYC Parents of Sick Children to Gather at the "Confronting Vaccine Resistance" Featuring Pan, Offit, Reiss
Dachel Wake Up: First Child

In Which Dr. Paul Offit Declines Vaxxed Invitation for Interview at NYU Sponsored Event

NOTE:   This is Dr. Paul Offit of Children's Hospital of Philadelphia having a bite to eat before he presented at Confronting Vaccine Resistance, a seminar at NYU.   There was a demonstration at the event, and the Vaxxed bus was there.  

Mark Blaxill of Age of Autism (and others) have written copiously about Dr. Offit. Below is the last Angry doctorinstallment of his series "Voting Himself rich," to give you a primer on Dr. Offit.

Offit Cashes In: Closing the Books on the Vaccine Profits of a Merck-Made Millionaire
By Mark Blaxill

“Cash in: To withdraw from a venture by or as if by settling one’s account.”

Paul Offit would like the world to see him as a champion of children’s health and a disinterested observer of controversial issues in autism and vaccine safety. In the view of many in the autism community, he is the worst kind of partisan: a Merck-made millionaire, a determined propagandist for expanding the medical industry’s vaccine profit pool and an active opponent of the need to stop the autism epidemic in its tracks. I will confess my own bias up front: like many autism parents, I hope and trust that history will bestow the fullest possible measure of shame on Offit, a man who so richly deserves it.

But lest we ever risk losing the central point here, it’s worth stating clearly: Paul Offit has made millions of dollars in the vaccine industry he so zealously promotes, in books, in articles and in media appearances. His conflicts of interest are not only obvious, they are florid.

 Dan Olmsted and I have reported in considerable detail the many dimensions of Offit’s financial dealings with Merck and the numerous ways in which he has profited personally from his relationship with, Merck, one of the world’s three largest vaccine manufacturers. In our work, although we sought information directly from Offit, he never responded to any direct inquiry. We have, however, benefited from his indirect responses to our reporting: After we wrote “Voting Himself Rich” (see  HERE ), Offit revealed new information to more friendly sources on the specific terms of his patent royalty deals, information that allowed us to develop a much more comprehensive  understanding of his stake in Merck’s Rotateq® vaccine. In our follow up report, “Counting Offit’s Millions” (see HERE ), we showed how Offit had earned $10 million in royalties through 2009 and stood to gain anywhere from $3-25 million in additional payments, depending on the commercial performance of the Rotateq® franchise.

I went into further detail on Offit’s ongoing financial stake in Rotateq® in a recent report, “the Offit Index” (see  HERE ). This report was based on an important disclosure Offit made to reporter Amy Wallace in late 2009. According to Wallace, “Offit acknowledges that he received a payout — ‘several million dollars, a lot of money’ …last year…He continues to collect a royalty each year.” When we wrote “Counting Offit’s Millions,” this annual royalty was the most difficult piece of Offit’s cash flow to estimate. Because of its size and importance, I wrote “The Offit Index” to further characterize the Offit’s ongoing annual royalty payments and how they might vary going forward based on Rotateq®’s commercial trajectory.

Shortly after we published “The Offit Index,” Offit responded indirectly yet again, making another new and surprising revelation to a friendly blogger. In an email the blogger claimed to receive, Offit wrote, “Just for the record: I no longer financially benefit from the sales of RotaTeq. My financial interests in that vaccine have been sold out by either The Wistar Institute, The Children’s Hospital of Philadelphia [CHOP], or me.”

One word in this sentence, “me”, provided important new information. In “Counting Offit’s Millions” we described in some detail the sale of royalty streams by Wistar and CHOP. But the report that Offit’s “financial interests in that vaccine have been sold out by…me” was entirely new.

So between his interview with Amy Wallace in October 2009 and January 2011, Offit cashed in, effectively settling his account with Merck on Rotateq®. How did that account turn out when all was said and done? In brief, here’s a recap of what we know about the millions Offit has received from Merck, including an estimate of the last piece of cash Offit may have received on his own recent sale.

1. The CHOP payout from the Royalty Pharma sale-- $6.2 million. On April 24, 2008, CHOP sold its royalty interest in Rotateq® for $182 million to Royalty Pharma. The vaccine’s three inventors shared roughly 10% of the proceeds, with Offit’s share coming to slightly less than $6.2 million according to our calculations. This was the “several million dollars, a lot of money” that Offit acknowledged receiving to Amy Wallace.

2. Royalty payouts from CHOP prior to the Royalty Pharma sale-- $0.5 million. One thing Offit didn’t disclose to Amy Wallace was that Royalty Pharma only purchased the rights to CHOP’s royalty stream “from and after October 1, 2007.” That means that Offit received a share of royalty payments from Merck to CHOP that occurred before the Royalty Pharma deal: revenue from Rotateq®’s introduction in early 2006 through the third quarter of 2007. We estimated that Offit’s share of this revenue stream came to roughly $450,000.

3. The Wistar payout from the Paul Capital Royalty Fund-- $2.3 million. On December 15, 2005, The Wistar Institute sold a portion of its Rotateq® royalty to Paul Capital for $45 million. In this deal, the inventor share was set at to 15%, higher than the CHOP deal, giving Offit a 5% share of the Wistar payout, or $2.25 million.

4. Royalty payouts from the royalty stream that Wistar did not sell to Paul Capital--$1.0 million. The Wistar Institute’s deal with Paul Capital gives it an ongoing interest in Merck’s Rotateq® program, and Offit was entitled to 5% of these ongoing royalties as well. Assuming that Offit held onto these rights through the end of 2009 (a reasonable assumption since Amy Wallace reported in her October 2009 article that Offit “continues to receive a royalty each year”), we then estimated that Offit earned an additional $1 million in royalty payments via Wistar through the end of 2009.

5. Offit’s payout from the sale of his Wistar royalty stream--$7.5 million est. ($3-20 million range). Sometime between Offit’s interview with Amy Wallace in late 2009 and his disclosure last month that his “financial interests in that vaccine have been sold out by…me,” Offit completed a new transaction. He sold off his rights to a revenue stream that we estimated could come to anything from $3-25 million, depending on the commercial success of Rotateq®. It was this royalty stream--Offit’s ongoing interest in Merck’s commercial fortunes--that prompted me to write “The Offit Index.” Now, it appears, Offit has cashed in his Merck account and withdrawn from the Rotateq® venture, a disclosure that (sadly, because it would have been fun to track) eliminates the need for “The Offit Index.”

But, as is his tendency, Offit did not disclose the amount of this sale. How much might it have been? If we take the simplest approach and set the value of the Wistar royalty equal to the CHOP royalties (roughly $195 million if one adds pre-October 2007 royalties to the Royalty Pharma payment of $182 million), then Offit might have received $7.5 million on this final sale (or 5% of the CHOP benchmark of $195 million less the $45 million Wistar received from Paul Capital).

Adding it all up, we can summarize just how rich Rotateq® has made Offit. At a minimum, Offit earned $10 million from Merck through 2009. On top of this, Offit has now cashed in another bonus that is likely worth millions after selling off his remaining position. The simplest calculation (the real number could be higher or lower, only Offit knows for sure) of $7.5 million puts one estimate of Offit’s total yield on Rotateq® at over $17 million.

That’s almost certainly among the largest amounts ever paid to a vaccine inventor, placing Offit in a category all his own. Offit likes to think all of this money is just a happy dividend, “a fluke” as he told Amy Wallace, of his life’s work protecting children from infectious disease. But for autism parents, these millions are Exhibit A in the case for Offit as a shill, the vaccine industry’s most prolific propagandist.

 Mark Blaxill is Editor at Large for Age of Autism.

Comments

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ATSC

http://thinkingmomsrevolution.com/paul-offit-confronting-vaccine-resistance-get-fck/

Laura Hayes

Need a chuckle? Forrest Maready strikes again.

https://youtu.be/hio4mvuO00E

Laura Hayes

Link to interview with Dr. Suzanne Humphries after yesterday's diabolical meeting at NYU:

https://youtu.be/QuwUUqg74r8

Benedetta

Thank you Mark; I have not been able to keep up with Offit's on going being paid for his vaccine. I thought It all ended with 6 million and now it could be as low as 10 million or as high as 25 million. He is a foul mouthed F ------ good business man as any Wall Street type could possible be.

Richard P Milner

You may be interested in watching "Haley vs Offit: A Virtual Debate About Vaccines, The Greatest Medical Controversy Of Our Time" at publicaffairsmediainc.blogspot.com

Greg

I am sure the irony is lost on provaxxers...

A low-impactful meeting, not open to the public, to overcome vaccine hesitancy, suddenly becomes impactful and will likely fuel vaccing hesitancy, when one of its prominent speakers is seen cussing like a sailor in front of a camera when questioned! Truly, is Offit not brighter than this? What is wrong with, 'sorry, I do not wish to be disturbed, now please leave'? Heck -- he would've been better off taking up the camerman's request to be interviewed by the Vaxxed team, only to ignore their questions, but, instead, entertain them with his version of the monkey-chicken dance.

Offit the oss

He said he sold off his interests.
He could be lying
He could have had more stock grants coming.
He could have sold them for $1 to a relative.
He is a vile bully.
He has to convince others that the harm he does is coincidental as is the wealth he makes from it. So he says insane extreme statements like the 10,000 vaccines and laughs all the way to the bank.
Remember that abusers like him will accuse you of what is true of themselves.
He and his in group get joy ridiculing the likes of us and our pain. And proving their loyalty to each other with our children ---not suffering not even disease --as their focus and personification of what they are defeating. Very very sick. Dr humpries attended this and reported on it.

Dorie Southern

My husband was reading an article to me about how bad vitamins are for people. Not knowing the author I said it sounded like a Pharma shill. He checked. It was Paul Offitt. Enough said.

Louis Conte

I thought he came to NY to confront vaccine resistance?

Except that he's afraid to engage in debate.

And then he uses the "F" word?!

CHOP should fire him.

Doug Troutman

He is more calm when he is speaking at Amazing Randi conferences with Dave Gorski and Stevey Novella. These guys are total scum bags. They have lied to the American public for years while millions of innocent children have been vaccine injured. The people of Vaxxed are wonderful and they are doing a great service.

Lenore Zissermann

Thanks, Tim

Tim Lundeen

@Lenore Zissermann

Amazon is very very tricksy. They added a profile option for "Hide sensitive activity", and (at least when I found out about it) were turning it on by default. They then hid many of my negative posts, and many of my good posts on alternative books/products.

You can check this by editing your profile, then editing your privacy settings. You want to turn off "Hide sensitive activity".

When you allow them to hide sensitive activity, they can hide whatever they want, and affect reviews however they want.

Lenore Zissermann

Regarding my recent comment of 04:47 PM here below, the 1-star and 2-star reviews of Offit's book "Deadly Choices;..." have just reappeared on the book's Amazon page. I wonder if this is not just a coincidence? Perhaps this is something to monitor.

Linda1

Correction: personal "bank" account.

He might be in a band too. I don't know. LOL.
Maybe he can take up an instrument in prison.

Lenore Zissermann

I wonder if anyone else has recently checked the Amazon.com reviews for Paul Offit's book titled "Deadly Choices; How the Anti-Vaccine Movement Threatens Us All," published March 10, 2015. As of today, November 21, 2016, at 1:18 pm Pacific time, the 1-star and 2- star reviews (poorest reviews and comprising a total of 34% of all reviews) have disappeared. If one goes to the bar graphs which illustrate percentages of 1-, 2-, 3-, 4-, and 5-star reviews and selects either the 1-star or 2-star reviews (again, the poorest reviews), the following message appears: "Sorry, no reviews match your current selection. Try cleaning or changing some filters...." This also was the case last Friday, November 18, 2016, and I contacted Amazon three times about my concerns then, reminding them that such reviews are important in evaluating and/or making a decision about whether or not to purchase a book. I also mentioned that it is important to Amazon's integrity to present all such information, and they agreed. I was told by the sales representatives with whom I spoke by phone and who also seemed puzzled by this, that they would try to correct it, but that doesn't seem to have happened as of now. It seems odd that only the poorest reviews, which I know were presented previously, have gone away.

Doug Troutman

Paul Offit is a criminal and should be locked up.

Reader

Proffit shows himself to be a crude, paranoid man. But then what else would you expect from such a man?

Linda1

Yes, we can compare Offit to Dr. Wakefield, and also to Drs. Sears (father and son) and so many others. After I stopped laughing at this brilliant 45 second expose, T. Berry Brazelton came to mind. Saw him many years ago. Dr. Brazelton literally sparkles. Loves children. Exudes warmth, gentleness, kindness. I don't know what his current stance is on vaccination, but I found this quote in an article from 11 years ago, talking about how pediatricians should respond to parents' concerns:

"I happen to think parents today are under a lot of stress," he said. "When they're stressed, of course they're going to turn to anyone who's holding out a hand to them. The answer is that we ought to be holding out a hand, and maybe we're not."

So there you have it. Not only does Paul Offit, heinous father of the anti-parental rights movement who would turn your children over to the state in a heartbeat for refusing drugs the sale of which enriches his personal band account, not only would this pediatrician not hold out his hand, but this morning he told a parent to get the f away from him. Pediatrician Pan, another of NYU's infamous speakers today, co-authored legislation that turned parental rights over to the state of California and at the same time set up the end of physician autonomy there with doctors being pulled into court for writing medical exemptions that were not supposed to be questioned by the state. These two are obviously not in the same class as Brazelton, et al. Don't even seem to be practicing the same profession.

http://articles.baltimoresun.com/2005-07-29/news/0507290328_1_pediatricians-spock-vaccine

Bob Moffit

Offit's response .. "get the f..k out of here" .. to the very respectful, extremely polite request for him to have a friendly "conversation" regarding vaccines with VAXXED .. should surprise no one within the AoA community .. after all ... this charlatan's crude, cruel "get the f..k out of my way" response .. was exactly the same response he has given .. for DECADES .. to parents and the well-informed ... to AVOID answering questions he KNOWS he cannot answer truthfully.

It is Offit's way of TAKING THE FIFTH AMENDMENT AGAINST SELF-INCRIMINATION .. AND .. OUR COMPILIANT MEDIA NOT ONLY ALLOWS HIM TO PLEAD THE FIFTH .. THEY ACTUALLY DEFEND HIM FOR IT.

Andrea

The original Pharmatrician.

He was the Keynote speaker at the Ohio AAP meeting last year and this year we have HB564 attempting to remove philosophical exemptions.

That isn't a coincidence.

susan

However many millions he has received, it will not help him when he is publicly shamed - which I hope will be soon.

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