Why a Disclosure of Transfer of Value Code?
Janssen has a track record of delivering innovative and sometimes lifesaving medicines to society based on our research and our co-operation with doctors, medical scientists, hospitals and other Healthcare Professionals (HCPs) as well as with Healthcare Organisations (HCOs). This co-operation can help deliver great outcomes for patients.
We regularly work with HCPs and HCOs, for example inviting them to speak at medical educational events or seeking their advice and expertise on the services we provide to patients and the healthcare community. Individuals may sometimes be compensated for providing these services to the industry and these payments are referred to as Transfers of Value. It can also include, for example, sponsoring an individual to attend an important medical congress by meeting their registration and reasonable travel and accommodation costs. Organisations may be provided with funding to help with education for HCPs.
In June 2013, the European Federation of Pharmaceutical Industries and Associations (EFPIA) formally adopted the “Code on Disclosure of Transfers of Value from Pharmaceutical Companies to Healthcare Professionals and Healthcare Organisations” to further self-regulate the way pharmaceutical companies collaborate with HCPs or HCOs when a value transfer (payments of fees, contribution to cost of education etc.) is involved.
Video EFPIA: Understanding the working relationship between the pharmaceutical industry and healthcare
In Ireland, the requirement to disclose Transfers of Value (ToV) is part of the industry (Irish Pharmaceutical Healthcare Association) code of practice.
Further information about the disclosure of these payments can be found on the IPHA website: www.transferofvalue.ie
In June 2016, Janssen along with other pharmaceutical companies who are members of IPHA, published transfers of value made during 2015. Moving forwards, transfers of value will be published in June on an annual basis for transactions made during the previous calendar year.
Jannsen wholeheartedly supports the code and we believe disclosure of Transfers of Value has a significant impact on improving transparency in relation to the financial details of interactions between Janssen and HCPs and HCOs, showing that these interactions are legitimate and with the purpose of improving patient outcomes. In taking this step, we are ensuring the open co-operation between pharmaceutical companies and HCPs/HCOs continues.