MIAMI, Florida – ABTS Convention Services (ABTS), a global meetings and convention services company with 19 years of experience in international meetings has published “EFPIA and the US Medical Meetings Industry,” a guide to understanding the new European EFPIA Disclosure Code and the effect it will have on the US Medical Meetings Industry.
Guide is available for free download at HTTP://WWW.ABTSCS.COM
The EFPIA — the European Federation of Pharmaceutical Industries and Associations — Disclosure Code is a system of self-regulation that requires all member associations within 33 European countries to disclose and publish all payments and other transfers of value made to any medical, dental, pharmacy or nursing professional or practice. Requirement for disclosure starts onJanuary 1, 2015.
There is a strong ongoing worry that the implementation of the EFPIA Disclosure Codes will affect EU physicians’ ability to attend medical meetings, both within the US and worldwide and the effect that this will have on the US Medical Meetings Industry. Concerns about attendance from EU decreasing due to the new EFPIA Disclosure Codes are justified. There is evidence that several major EU pharmaceutical companies have already decreased their budget in anticipation of a decrease in demand from EU in 2015.
The US Medical Industry must start to take steps to protect itself from decreasing revenues due to decreasing attendance from EU delegations to the US medical associations’ annual meetings. This guide gives the US Medical Meetings Industry a playbook to follow to help counteract falling revenue from EU and even surpass current expectations by opening new revenue sources in new markets.
All inquiries should be directed to Patricia Andrade, Associate Vice President of Marketing, Communications and Community Relations at ABTS Convention Services at pandrade@abtscs.com.
