Ethical business practices promoted by Medicines Australia singled out in APEC Declaration

Ethical business practices promoted by industry representative Medicines Australia in Asia Pacific are to be commended by the 2014 Asia-Pacific Economic Cooperation Leaders’ Declaration.

This comes after specific endorsement earlier this month by APEC Ministers of the outcomes of the first APEC Business Ethics Forum on the medical device and biopharma sectors, reflecting ongoing work undertaken by the APEC Biopharma Industry Ethics Team to promote ethical business environments in the sector.

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