Medicines Australia submits new transparency reforms to ACCC

Trade body Medicines Australia has applied for authorization of the 18th Edition of its Code of Conduct to the Australian Competition and Consumer Commission.

The new code will introduce expanded transparency reporting that will require Medicines Australia member companies to report on an individual basis a wide range of payments and transfers of value to individual healthcare professionals, as well as sponsorships of third party educational meetings and symposia.

Chief executive Brendan Shaw said: “Medicines Australia’s member companies are taking the lead in setting new standards of transparency in Australia’s health sector with this new Code. Interactions between healthcare professionals and pharmaceutical companies are essential for ensuring that patients have the best care. They ensure healthcare professionals have up to date and comprehensive information about medical developments.”