The UK Bribery Act introduces four offences (two of which are new to the statute books): making a bribe, accepting a bribe, bribing a foreign public official and — of particular interest to pharma — failing to prevent bribery at a corporate level. (This point, wrote Steve Gray on Pharmaphorum [September 20, 2010] “encompasses not just employees, but any agents carrying out an activity to win or retain business for a company.” Or, as his colleague Paul Tunnah puts it, “senior executives are being asked to take greater responsibility for what actually happens on the front-line of the business.”) The upshot is that pharma companies in the UK are suddenly faced with a transparency ‘double whammy’. So what — aside from the apparent arrival of a climate in which the UK pharma industry no longer appears to be trusted to trust itself — are the implications of this?
Friday, June 24, 2011
New Transparency in UK Pharma: A Bitter Pill to Swallow?
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