Revised code imposes "higher level of transparency" for Australia's drug firms

The Australian Competition and Consumer Commission has claimed the credit for raising "the level of transparency about functions sponsored by pharmaceutical companies," according to the Commission's chairman, Graeme Samuel. The revised code, proposed by Medicines Australia, the national trade association for pharmaceutical companies, governing drug firms' relationships with physicians "will require a greater level of detail about the functions, including the cost and the type of hospitality provided. The information will also be available to the public, via a web site, in a timely manner," Mr Samuel added.

The ACCC insisted on greater levels of disclosure and transparency than originally proposed by Medicines Australia, specifically requiring that a list of all functions sponsored by drugmakers should be published and updated regularly.

Medicines Australia Code "ensures confidence"