FRA’s Mark Scallon and Jenny McVey review the new code of conduct for member medical device and in-vitro diagnostic companies operating in the European marketplace that has come into force.
MedTech Europe Code of Ethical Business (“Code”) will become effective on January 1, 2018. Rather than implementing the Code immediately, MedTech Europe took a more gradual approach to allow for companies to acclimate and prepare for the new changes.
Companies operating in the European market will no longer be able to pay for an individual HCP (Health Care Professional) to attend third-party organized educational events.
Given that Companies will no longer be able to pay for registration fees, travel or hospitality expenses directly to individual HCPs to attend third-party organized educational conferences, restricted educational grants may be provided to conference sponsors to help off-set costs for participants, with the caveat that the conference sponsor will solely be responsible for selecting the participants. However, the provision of an educational grant must be restricted and reported for public disclosure.
The overall purpose of this principle is to provide visibility to the public around the financial relationships between HCPs and pharmaceutical and medical device companies.
This article reviews the changes medical device and in-vitro diagnostic companies should consider implanting to adhere to the new principles for third-party educational support set forth by the MedTech Europe Code.
Authors: Mark Scallon, FRA partner & Jenny McVey, FRA Life Sciences manager
About FRA Life Sciences
FRA Life Sciences provides a broad set of services to help companies identify global compliance risk as well as develop practical, yet effective, solutions for operating under increasing scrutiny. Our expertise will help mitigate global compliance risk across multiple functional areas, including sales and marketing, medical affairs, research & development and instill any necessary change in a company’s compliance culture.