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March 9, 2015

Americas: U.S. Pharma Spend Transparency Trend Spreads to Europe

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Pharmaceutical companies that belong to the European Federation of Pharmaceutical Industries and Associations (EFPIA), and provide any kind of benefit to healthcare professionals based in Europe, have begun collecting data about those Transfer(s) of Value (TOV) in order to adhere to the voluntary EFPIA Disclosure Code.

Starting in 2016, pharmaceutical companies will be reporting those TOV to the public. Pharmaceutical companies that employ physicians in the course of business, typically in drug research and development, and any healthcare organizations—including those in the U.S.—that attract European physicians to their meetings are taking the transparency requirements seriously. Many U.S. associations worry that even if a European doctor is allowed to be funded by pharma to travel to attend their meetings in the U.S., physicians will stop coming because of the public disclosure, and possible misperception, related to that funding.

That Code, the full name of which is EFPIA Code on Disclosure of Transfers of Value from Pharmaceutical Companies to Healthcare Professionals and Healthcare Organizations, formally adopted in 2013, asks all EFPIA member companies to comply. 

Read more at MeetingsNet.com...

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