Setting the Scene: The Role of Ethics and Compliance in the Biopharmaceutical Market.
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Transcript of Setting the Scene: The Role of Ethics and Compliance in the Biopharmaceutical Market.
![Page 1: Setting the Scene: The Role of Ethics and Compliance in the Biopharmaceutical Market.](https://reader035.fdocuments.net/reader035/viewer/2022062722/56649f345503460f94c51561/html5/thumbnails/1.jpg)
Setting the Scene: The Role of Ethics and Compliance in the Biopharmaceutical Market
![Page 2: Setting the Scene: The Role of Ethics and Compliance in the Biopharmaceutical Market.](https://reader035.fdocuments.net/reader035/viewer/2022062722/56649f345503460f94c51561/html5/thumbnails/2.jpg)
Overview
Perception of the Biopharmaceutical Industry
What is Changing & Why Change?
Industry Stakeholders – Why they matter?
HCPs: Industry’s Most Significant Interface
Ethics vs. Compliance
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Perception of the Biopharmaceutical IndustryNegative perceptions of the biopharmaceutical industry
Media publicises negative stories; rarely positive stories Recent stories in the United States, China and elsewhere
Increasing demands for openness and transparency not experienced by other industry sectors Disclosure of clinical trial data US Sunshine Act; EFPIA transparency model; JPMA
transparency Code; Australian transparency model
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What is Changing & Why Change? Public and Government expectations
Demand for healthcare is increasing Affordability & accessibility challenged Transparency demanded (payments / relationships / data)
New and reinforced laws US Foreign Corrupt Practices Act & UK Bribery Act Local Laws Updated / OECD Anti-Bribery Convention
Competition driving change Local vs. international companies Generics vs. branded / patented
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Industry Stakeholders
Media
Coverage
Community
Legitimacy
NGOs
Advocacy
Government
Access
Investors
Money
Customer
Loyalty
Employees
Commitment
World of Opportunity
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HCPs Represent Most Significant Interface
Grants
CME
Congresses
Consulting
Advisory Boards Speaker / KOL
Samples
Research
Promotional Aids / IMUs
Promotion
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Ethics versus Compliance
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Key Responsibilities of ‘Corporate Compliance’
Strengthen ethical decision-making and behaviour within the organization
Identify and oversee the management of compliance risks Enable business partners to develop policy Communicate and train on policy Guide, conduct or support investigations and enforce
policy compliance
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Is it consistent with our mission, values and spirit? Is it legal and ethical? Is it consistent with policy and Code of Conduct, both in word
and spirit? Can I justify it to my family and friends? What perception does it create in the external environment? Would I be comfortable if it appeared in the newspaper?
Use the Ethical Compassin Decision Making
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Key Components of a Compliance Programme
1. Written Policies & Procedures
2. Designated Compliance Officer and Committee
3. Effective Training and Education
4. Clear lines of Communication
5. Auditing and Monitoring
6. Enforcement and Disciplinary Actions
7. Response to Detected Problems & Corrective Actions
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Who Owns Compliance?Risk of ‘Compliance’ usually thought to be the
responsibility of ‘the Compliance Department / Officer’Transition from a ‘culture of compliance’ to ‘values-based
decision making’ From making ‘rules-based’ decisions to ‘ethical’ decisionsEvery employee is ultimately responsible for ethical
business practices