A New, Transparent Code
Medicines Australia has introduced a strong Code of Conduct for innovative Australian pharmaceutical companies which will require the reporting of payments by companies to healthcare professionals for the provision of services and where support is provided for education.
From 1 October 2015, all member companies will be required to collect and report payments where they have the agreement of the healthcare professionals who are receiving payments.
The innovative Australian medicines industry is putting patients first by showing the value of industry partnerships and taking the lead to boost transparency. The new Code will also build on 55 years of successful, responsible, ethical industry self-regulation.
This edition of the Code has been developed through broad consultation through peak bodies over more than two years and has been authorised by the Australian Competition and Consumer Commission as part of a global industry effort to improve accountability and transparency.
A strong working relationship and ongoing knowledge exchange between the medicine makers and healthcare professionals are critical to better patient outcomes.
Expert advice from experienced professionals is important to ensure vital new medicines are developed quickly and safely.
The new Code requires Medicines Australia member companies to publicly report when a company pays a healthcare professional for their service or provides financial support for a healthcare professional to engage in education, including airfares, accommodation and conference registration fees.
From October 2015, all member companies will be required to collect and report payments where they have the agreement of the healthcare professionals who are receiving payments. Following this 12 month period of adjustment, from 1 October 2016, the Code will require reporting of all these payments to healthcare professionals to be mandatory.
The disclosure requirements have the support of healthcare professional and patient groups who were directly consulted on the changes to the Code.
The new Code ensures that the innovative medicines industry continues to set the benchmark for successful, responsible and ethical industry self-regulation.
For more information, please see our FAQ and Fact Sheet below.