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Adm. Sci. 2016, 6(1), 3; doi:10.3390/admsci6010003

Is Self-Regulation Sufficient? Case of the German Transparency Code

1
Euro*MBA, Tongersestraat 49, Maastricht 6211 LM, The Netherlands
2
Parella Weinberg Partners, 20 Grafton Street, London W1S, UK
3
Thammasat Business School, 2 Prachan Road, Bangkok 10200, Thailand
*
Author to whom correspondence should be addressed.
Academic Editor: Falih M. Alsaaty
Received: 7 December 2015 / Revised: 21 January 2016 / Accepted: 15 February 2016 / Published: 23 February 2016
View Full-Text   |   Download PDF [906 KB, uploaded 23 February 2016]   |  

Abstract

The German pharmaceutical industry is stepping ahead with its implementation of a new transparency disclosure code for cooperation between pharmaceutical companies and health care professionals (HCPs) and health care organisations (HCOs). In Germany, this transparency code (“Transparenzkodex”) is applicable since January 2015, and data will be publicly available around mid-2016. No empirical work has been done that addresses the impact of the transparency code on cooperation between HCPs, HCOs and the pharmaceutical companies, including the possibilities of competitive analysis of the available data. In this paper, we interviewed experts from 11 pharmaceutical companies representing small, medium-sized as well as multinational corporations which represent 80% of the German pharmaceutical market. Besides interviews, the authors designed a game to evaluate possible financial investments in key opinion leaders. The market can be regarded as a zero sum game. By allowing public identification of such key HCPs and HCOs, the amount spent on them might increase and not decrease. In a way, the transparency code may foster more and not less spending; in our simulation game, the financial investment in marketing key HCPs and HCOs exceeded sustainable limits. View Full-Text
Keywords: marketing; pharmaceuticals; transparency code; Germany; self-regulation marketing; pharmaceuticals; transparency code; Germany; self-regulation
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Buske, K.; Jentzsch, S.; Bechter, C. Is Self-Regulation Sufficient? Case of the German Transparency Code. Adm. Sci. 2016, 6, 3.

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