September 15, 2010 8:01 PM

21st Century Snake Oil

By
CBSNews
Many experts believe that the FDA is outmatched.

"Patients need to beware," prominent stem cell biologist Larry Goldstein told Pelley.

Goldstein and researcher Doug Sipp are with the International Society for Stem Cell Research, an organization of the world's leading stem cell scientists.

Sipp is tracking bogus stem cell clinics all around the world.

"How have these operations grown, say, in the last five years or so?" Pelley asked.

"I would say the growth has been explosive. I've been tracking it closely for the past three years and I've been able to come up with more than 200 clinics that are offering some version of stem cells for some type of medical condition for which there is really no good evidence that the stem cells would be either safe or effective," Sipp explained.

Asked if all of these clinics are frauds, Sipp said, "On one end of the spectrum you have people who are doing, essentially, badly designed uncontrolled human medical experiments for profit. And then at the other end of the spectrum you just have thieves who are preying on the sick and their families."

"Now an ALS patient might say to you 'How could I possibly be worse?' This is the question you get sometimes. 'How could I possibly be worse?'" Goldstein added. "'I'm going to die in two or three years why not give it a try?' Well what if as a result of this treatment you ended up in excruciating pain? What if you managed to bankrupt your family through the use of one of these expensive unauthorized treatments so they can't take care of you properly as you decline? There are things that are worse than your current situation, I think."

The experts in stem cell research believe these procedures are at best ineffective and potentially dangerous. A study by UCLA found patients at a Chinese clinic often developed spinal meningitis. But there's rarely any mention of risk on the Web sites that offer false hope for dozens of afflictions ranging from Down's syndrome to cancer.

"One of the different things now is the power of the Internet now gives just tremendous global reach to people who in the past would be kind of the local quack," Sipp said.

"So, instead of the snake oil salesman standing in the back of a pickup truck, he can now reach every ALS patient on Earth?" Pelley asked.

"And say, 'Come to me, and I'll help you out in Mexico, or in Russia, or in Thailand,'" Sipp replied.

"What we see here essentially is Stowe on an industrial scale," Pelley remarked.

"Stowe on steroids," Goldstein said.

"Yeah, you could say that," Sipp added.

"He might as well be sticking his hands into the pockets of those people and taking the money out without even talking to them. That's how bad I think it is," Goldstein said.

"I wonder what you think when the top people in the field that you pretend to work in call you a snake oil salesman?" Pelley asked Larry Stowe.

"Comes with the territory," he replied.



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