Examples of Member Companies in a sentence
Member Companies will need to assess the implications of such revocation on a case-by-case basis and are encouraged to seek independent legal advice.
Moreover, as stated in the EFPIA Q&A Batch 1 Q58, “Not every research activity that Member Companies undertake is done for a regulatory purpose.
If a Recipient’s consent is revoked, Member Companies need to be clear as to when such revocation is effective and amend their individual disclosures at such time.
It is likely to be the local currency (i.e. the currency of the country where the Recipient has his/her principal activity) or the Euro.Where Transfers of Value are made in a different currency than the currency in which the disclosure is made, Member Companies should describe in their Methodological Notes how currency conversions are handled”.
Moreover, “Member Companies are not obliged to disclose any logistical costs e.g. hire of Member Companies facility associated with a stand-alone event.” (EFPIA FAQ Question 3.01 - 13).
EFPIA requirementsPursuant to Section 4.01 of the Disclosure Code “ Enforcement through Member Associations - When making a Transfer of Value to an HCP / HCO, and in their written contracts with HCPs / HCOs, Member Companies are encouraged to include provisions relating to the recipients’ consent to disclose Transfers of Value in accordance with the provisions of the EFPIA HCP/HCO Disclosure Code.
Thus payments made in 2015 will have to be disclosed by 30 June 2016.It is expected that Member Companies will apply the relevant company accounting principles.
However, Member Companies may make Transfers of Value to HCPs / HCOs through CROs – such indirect payments are within the scope of the Code”.
EFPIA requirementsPursuant to section 3.01of the Disclosure Code “Individual Disclosure” Member Companies must disclose under “Contribution to costs of events” category any “Contribution to costs related to Events.
EFPIA requirementsPursuant to section 3.01of the Disclosure Code “Individual Disclosure” Member Companies must disclose under “Fees for Service and Consultancy” category any “Transfers of Value resulting from or related to contracts between Member Companies and HCPs, institutions, organizations or associations of HCPs under which such institutions, organizations or associations provide any type of services to a Member Company or any other type of funding not covered in the previous categories.