Members of the European Federation of Pharmaceutical Industries and Associations (EFPIA) will have to disclose payments made to healthcare professionals from 2016, the organisation said yesterday.
The organisation is bringing in a new code of conduct in a bid to introduce greater transparency to the pharmaceutical industry.
Members will have to divulge the names of healthcare professionals (HCPs) and organisations (HCOs) that have received payments or other transfers of value, as well as the amounts or value transferred, and the type of relationship, such as consultancy fees, payment for travel, or congress fees.
EFPIA director general Richard Bergström stressed that this new code is an important step for the pharmaceutical industry and for the organisation to demonstrate its commitment to transparency and to secure the trust of patients.
"We know that by making this a success, we can improve the relationship between industry, HCOs and HCPs in a way that ultimately benefits the people that all three of these stakeholders aim to serve: patients," he said.
The disclosure code comes after two years of negotiations within the industry and at a time when companies face increasing scrutiny and criticism for payments to HCPs.
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Last year GlaxoSmithKline was fined $3bn by US authorities over claims of aggressive marketing tactics.
The EFPIA represents the pharmaceutical industry in Europe. Its membership incudes 33 national associations and 40 leading pharmaceutical companies, including The Association of the British Pharmaceutical Industry (ABPI), Merck and Eli Lilly.
Image: The EFPIA new disclosure code is a step towards greater transparency in the pharmaceutical industry, the organisation said. Credit: G Schouten de Jel.