Member Organizations Will Have Tracking and Reporting Obligations for Certain “Transfers of Value” to HCPs and HCOs -
On July 2, 2013, the European Federation of Pharmaceutical Industries and Associations (EFPIA or “the Federation”) officially announced its newly approved and highly anticipated Disclosure Code (the “Code”). The Code creates obligations for EFPIA member companies, and companies that are members of an EFPIA member association, to track and report certain transfers of value to health care professionals (HCPs) and health care organizations (HCOs). Tracking must begin in 2015, for mandatory reporting in 2016.
EFPIA members include pharmaceutical industry associations in over thirty European nations and nearly forty individual pharmaceutical manufacturers. Through these two membership channels, EFPIA’s polices and codes apply to roughly 1,900 pharmaceutical manufacturers. Due to its broad membership, EFPIA is able to exert significant influence over European pharmaceutical codes and, consequently, pharmaceutical manufacturers operating in Europe.
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Topics: Disclosure Requirements, EFPIA, EU, Healthcare, Pharmaceutical, Reporting Requirements
Published In: General Business Updates, Health Updates, International Trade Updates, Science, Computers & Technology Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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