A large number of pharmaceutical companies across Europe had until June 30, 2016 to disclose their financial interactions with health care professionals (HCPs) in order to comply with the guiding principles of the EFPIA disclosure code. There are several legal regulations complicating compliance with EFPIA disclosure requirements. This article explores those complications.
Now that the Open Payments process is well established in the U.S., multi-national and European based pharmaceutical companies turned their sights to complying with the EFPIA disclosure code, which took effect on June 30, 2016. However, compliance with the EFPIA’s guiding principles is not without risk, including some national privacy laws that require consent given by the HCP for individual disclosure. Also, the disclosed information may invite prosecution authorities to start criminal investigations on possible violations of anti-corruption laws. In order to prevent prosecution for the violation of privacy or anti-corruption laws, pharmaceutical companies must prepare and document their financial interactions with HCPs on an ongoing basis.
Read Full Article in the October 2016 Issue of Life Science Compliance Update