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GRC Professional : GRC Spring 2012
NEWS 11 The Australian Competition and Consumer Commission (ACCC) intends to reduce its period of authorisation for Medicine Australia's Code of Conduct from five to three years, in response to increasing community demand for greater transparency between pharmaceutical companies and healthcare professionals. ACCC chairman Rod Sims said Medicines Australia could go further in ensuring the code met growing expectations of the community for transparency and disclosure. Greater transparency around the relationships would result in public benefits, he said. As a result of this proposed reduction in time for authorisation, the ACCC is seeking submissions from interested parties on its draft determination. The reduced authorisation period will apply to the next edition 17 of Medicines Australia's Code of Conduct. Sims said the ACCC encouraged Medicines Australia to look for ways to address concerns raised during the ACCC's consultation process for the draft. These included improving the accessibility of reports and the complaints process and giving consideration to disclosing payments made to individual healthcare professionals. The ACCC la st granted authorisation to the code in 2009. All member companies of Medicines Australia must adhere to it, but membership of Medicines Australia is voluntary. Authorisation provides statutor y protection from court action for conduct that might otherwise raise concerns under the competition provisions of the Competition and Con sumer Act 2010. The draft determination is available at w w w.accc.gov.au/ AuthorisationsRegister. Read Pharmaceuticals -- an ingestible risk, page 22. More frequent checks for pharmaceutical code Empowering governance, risk and compliance professionals to create, communicate, monitor and evaluate programs to meet business objectives and build a culture of compliance and integrity. 1300 513 107 www.saiglobal.com/compliance email@example.com GRC Software Solutions Our solutions are tailored to meet your own unique business requirements. Online Compliance Training & Awareness Programs Risk & Compliance Consulting Sims said Medicines Australia could go further in ensuring the code met growing expectations of the community for transparency and disclosure.
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