Transfers of Value definition

Transfers of Value means direct and indirect transfers of value, whether in cash, in kind or otherwise, made, whether for promotional purposes or otherwise, in connection with the development and sale of prescription-only medicinal products exclusively for human use. Direct transfers of value are those made directly by a Member for the benefit of a recipient. Indirect transfers of value are those made on behalf of a Member for the benefit of a recipient, or transfers of value made through an intermediate and where the Member knows or can identify the healthcare professional or healthcare organisation that will benefit from the Transfer of Value.

Examples of Transfers of Value in a sentence

• This methodological note is intended to help readers understand how the Transfers of Value (ToVs) from Gilead Sciences Inc.

• Fees, on the one hand, and on the other hand Transfers of Value relating to expenses agreed in the written agreement covering the activity will be disclosed as two separate amounts.

• Any ToVs made by, or on behalf of, any Gilead Affiliates to Reportable Recipients within EFPIA countries, including Cross-Border Spend, are captured as described under “How Transfers of Value are captured and recorded by Gilead”.

• Each Member Company shall disclose, on an individual basis for each clearly identifiable Recipient, the amounts attributable to Transfers of Value to such Recipient in each Reporting Period which can be reasonably allocated to one of the categories set out below.

• At a high level, there are three main tenets that characterize the AZ approach: (1) Affiliate accountability and regional consolidationAffiliates are responsible for capturing the Transfers of Value (ToVs) made in their affiliates and for validating the accuracy of the data.

• Fees and Transfers of Value relating to expenses agreed in the written agreement covering the activity will be disclosed as two separate amounts, under the ‘Fees’ and the ‘Related expenses agreed in the fee for service or consulting contract’ categories.

• They would therefore be expected to disclose Transfers of Value in a given year within 6 months after the end of the relevant reporting period.

• Transparency Laws include, without limitation, section 6002 of the U.S. Affordable Care Act and the EFPIA Code on Disclosure of Transfers of Value.

• Notes:- “For the avoidance of doubt, under the EFPIA Code, “meals and drinks” do not need to be disclosed as such Transfers of Value are regulated by the new provisions in the EFPIA HCP Code.

• 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”.