APEC Summit endorses Principles for Industry Codes of Ethics for pharma

The International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) said yesterday it welcomes the decision taken at the Asia-Pacific Economic Cooperation CEO Summit to endorse “The Mexico City Principles for Voluntary Codes of Business Ethics in the Biopharmaceutical Sector,” often referred to as the “Mexico City Principles.”

Progress was also made in deepening regional economic integration and expanding trade. Leaders at the meeting reached broad consensus on innovation policies and the development of small- and medium-sized enterprises and unanimously pledged to battle trade protectionism.

These principles are fully aligned with the IFPMA’s global Code of Pharmaceutical Marketing Practices which sets standards for ethical promotion of medicines. The IFPMA says it looks forward to the Mexico City Principles being adopted by all industry sectors on a voluntary basis within all 21 APEC countries.