MA submits new transparency reforms to ACCC

Medicines Australia today applied for authorisation of the 18th Edition of its Code of Conduct to the Australian Competition and Consumer Commission.

“Medicines Australia’s member companies are taking the lead in setting new standards of transparency in Australia’s health sector with this new Code,” Medicines Australia Chief Executive, Dr Brendan Shaw, said.

“Interactions between healthcare professionals and pharmaceutical companies are essential for ensuring that patients have the best care. They ensure healthcare professionals have up to date and comprehensive information about medical developments.

“This new Code sets new standards in the transparency in these interactions which is unprecedented in the Australian health sector.

“While the journey of delivering greater transparency isn’t easy, these new transparency measures are an important step forward for industry, healthcare professionals and importantly Australian patients.”

“We want to work in partnership with healthcare professionals, consumers, other industry sectors and the broader community to make this new era of transparency work,” Dr Shaw said.

The new Code will introduce expanded transparency reporting that will require Medicines Australia member companies to report on an individual basis a wide range of payments and transfers of value to individual healthcare professionals, as well as sponsorships of third party educational meetings and symposia.

The ACCC authorisation process is expected to take around six months and, if authorised, the new Code will come into effect in January 2015, with the new transparency reporting starting in October 2015. Under this new transparency model companies will seek consent from healthcare professionals before disclosing payments or transfers of value made to them.

“Medicines Australia’s members support a strong industry code that evolves with changing community expectations. We have consulted with a wide range of stakeholders in the development of the new code, including consumer and medical groups, some of whom actively participated through representation on the Code Review Panel,” Dr Shaw said.

“Medicines Australia looks forward to other industry sectors following this lead towards greater transparency.”

For more information go to the Medicines Australia website Code of Conduct Review page.

-ENDS-

Contact Person:

Alexia Vlahos
Phone: (02) 6122 8503
Email: Alexia.Vlahos@medicinesaustralia.com.au