New Code of Practice in Place to Boost Global Business Integrity

January 17, 2019

The International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) has made two significant changes to its new 2019 Code of Practice with the aim of boosting business integrity on a global scale.

The International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) has made two significant changes to its new 2019 Code of Practice, which has been in place since January 1, with the aim of boosting business integrity on a global scale.

IFPMA’s new Code has banned gifts and promotional aids for prescription medicines, wherever the associations’ member companies operate, and it has also introduced a values-based code, rather than a rules-based approach, to guide better business behaviors between association members and the healthcare community. The changes to the Code of Practice should bring the rest of the world more in line with current European and United States guidelines.

“We are glad to see that the new pharma industry Code of Practice is value-based, this will lead to the right instinct to put the patient first,” said Kawaldip Sehmi, CEO of the International Alliance of Patients’ Organizations (IAPO) in a Jan. 10, 2019 press release. “From a patient perspective, we support self-regulation for all healthcare professionals and industry. It is important that when they step into a doctor’s cabinet, patients know that they can trust that advice. We are happy to work with the Code and promote it.”

Additionally, within the Consensus Framework for Ethical Collaboration platform, the new Code has been presented to association partners-including international organizations representing physicians, patients, nurses, and pharmacists.

“We encourage doctors, pharmacists, nurses, and patients to become aware of the updated ethical standards. The better our stakeholders understand our standards and hold us to account, the easier it will be for us to live-up to our commitments,” said Thomas Cueni, IFPMA director-general.

Source: IFPMA