Medicines Australia welcomes APEC support for ethical business practices

Ethical business practices promoted and supported by Medicines Australia in the Asia-Pacific region have been singled out for commendation in the 2014 APEC Leaders’ (Heads of State) Declaration.

This recognition follows specific endorsement earlier this month by APEC Ministers of the outcomes of the first APEC Business Ethics Forum on the Medical Device and Biopharmaceutical Sectors. It reflects ongoing work undertaken by the APEC Biopharmaceutical Industry Ethics Team to promote ethical business environments in the sector.

Medicines Australia CEO Tim James said it is encouraging to see such a strong commitment from APEC Leaders to promote ethical business environments in the region.

“Medicines Australia has been an active participant and financial contributor to activities to promote ethical business practices in the biopharmaceutical industry across APEC nations,” Mr James said.

“Ethical business environments support innovation and sustainable growth, reduce corruption and reward merit.

“This is something Medicines Australia and the innovative medicines industry have long supported and adhered to in Australia, so it’s great to see such high level commitment amongst some of our major trading partners.”

Medicines Australia also welcomed the Asia-Pacific Economic Cooperation’s (APEC) new initiatives which have been mapped out at the 26th APEC Ministerial Meeting in Beijing.

APEC announced new actions that will further strengthen the Asia-Pacific partnerships, which focuses on key priorities including fostering greater regional economic integration, promoting innovative development, economic reform and growth, and strengthening infrastructure investment and comprehensive connectivity.

“Medicines Australia looks forward to continuing collaboration among member groups of APEC.  As Asia becomes the epicentre for the global pharmaceutical industry, Australia is well placed to lead, contribute and grow,” Mr James said.


Contact Person:

Alexia Vlahos
Phone: (02) 6122 8503