Why a Disclosure of Transfer of Value Code?
A transparent approach to our collaboration with Healthcare Professionals and Healthcare Organisations.
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 positive 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 our services 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 healthcare professionals.
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 (e.g. fees for services or educational grants etc.) is involved.
Video EFPIA: Understanding the working relationship between the pharmaceutical industry and healthcare
In the UK. the requirement to disclose Transfers of Value (ToV) on an individual basis is part of the Association of British Pharmaceutical Industry (ABPI) code of practice. The information is published by the ABPI annually at the end of June. Further information about the disclosure of these payments can be found on the ABPI website: www.abpi.org.uk
Janssen wholeheartedly supports the code as we truly believe it will prove our interactions can stand up to any scrutiny. The code will have 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 responsible step, we are ensuring the open co-operation between pharmaceutical companies and HCPs/HCOs continues for the future.