New website launched by EFPIA to support the new Disclosure Code transition : Pharma Disclosure

Elias Okwara, Sr. Associate Global Regulatory Compliance at Health Market Science (HMS), and member of the Bertrand Act Think Tank, pointed us to the EFPIA announce of a new information / best practice sharing platform : PHARMA DISCLOSURE This website has been developed as a joint initiative between the European Federation of Pharmaceutical Industries and Associations (EFPIA) and VitalTransformation.com to highlight the industry’s new rules on disclosing financial relationships with doctors and healthcare organisations, follow progress in the implementation and to monitor compliance in the 33 countries involved in the initiative. EFPIA’s’ Code on Disclosure of Transfers of Value from …

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ABPI Sets Out Disclosure Plans as the Transparency Evolution Reaches Across the Health Sector

Elias Okwara, Sr. Associate Global Regulatory Compliance at Health Market Science (HMS), and member of the Bertrand Act Think Tank,  pointed us to an article written by Andrew Powrie-Smith, Director of ABPI Scotland. Having made a commitment to disclosure of payments to individual healthcare professionals in 2016, the ABPI is now engaging with healthcare professionals. In line with a decision by the European Federation of Pharmaceutical Industries and Associations (EFPIA), last year ABPI member companies agreed to amend the ABPI Code of Practice, to require payments to named healthcare professionals to be disclosed. This will come into effect in 2016 …

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CBI Aggregate Spend West Conference Highlights: Painful Adjustments to New Regulatory Realities

CBI’s 5th Annual Sunshine and Aggregate Spend West conference held in San Diego shed light on the many pain points life sciences organizations have faced, and continue to face in modifying corporate processes and procedures to accommodate for data collection and reporting activities as required by the Federal Sunshine Act. Ben Carmel, Head of Global Offering Development at Polaris, closed the conference with a panel on international compliance for medical device organizations. He noted that EFPIA adoption has been faster than initially anticipated and member nations are considering whether it should be enacted as code or as law. Additionally, he …

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Recap from the CBI Global Transparency Congress

A key issue faced by the European life sciences compliance community that clearly came to the fore at this year’s CBI Global Transparency Congress held in London was the battle of the transparency vs. the data privacy directives and how meeting one mandate could mean violating the other as the situation currently stands. It was the question of the day throughout the two-day conference, in the session presentations and in the side conversations that many of us had while there. If there is one issue that’s keeping European life sciences executives up at night, it’s definitely this one and it’s …

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The Bertrand Act Think Tank goes Europe : United Kingdom, Ireland and Belgium

The Bertrand Act Think Tank is very pleased to welcome Elias Okwara as a Correspondent for the United Kingdom, Ireland and Belgium. Elias Okwara is Sr. Associate, Global Regulatory Compliance at Health Market Science (HMS) where he serves as the policy advisor on transparency regulations and oversees compliance with global data privacy and protection regulations. Prior to HMS, Elias worked for, among other institutions, international law firm Duane Morris LLP and served former Finnish Prime Minister Anneli Jäätteenmäki at the European Parliament. Elias is a member of the International Association of Privacy Professionals. To contact Elias, please email eokwara@healthmarketscience.com

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Protecting HCP & Third Party Payment Valuations Against Changing Global Economic Conditions

By Mario Prohasky, Senior Consultant, Polaris As life sciences companies continue to expand their footprint in many emerging markets, they will have to grapple with the impact of external economic factors on the Fair Market Value (FMV) of the payments they make to physicians they engage with in those markets. More specifically, payment process controls limiting the impact of high inflation and significant exchange rate fluctuations will need to be integrated into their FMV policies. Existing FMV rates quickly become outdated whenever there are significant macroeconomic changes, especially if they are based on local currency. Thus, life sciences companies should …

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