   Sanjay Parekh, MD at Web Expenses talks about the –    ◦ Looming threat to Big Pharmas in the UK    ◦ Drug representat...
   Drug Reps are an invaluable resource to both doctors &    drug companies   UK’s pharmaceutical industry employs 83,00...
   Britain’s healthcare and pharmaceutical sector lacks    transparency   British pharmaceutical companies do not disclo...
   The latest Bribery Act has the power to impose limitless    fines and 10-year jail terms   The Act –    ◦ Outlaws the...
   The PMCPA revelations will raise alarm bells in many    corporate boardrooms as some of the world’s major    medicine ...
   The ABCP recently found Abbott Laboratories guilty of    splashing out thousands of pounds on alcohol-fuelled trips   ...
   Companies are no longer liable for acts of bribery if they    can prove they had adequate systems in place to enforce ...
   Our software enables expenses claims to be both entered    and checked remotely from any location, providing an    ins...
Do you wish to know more aboutthe UKs Anti-Bribery Act?Download our PDF to understandthe implications of the Act acrossthe...
Contact Us –   Website – http://www.webexpenses.com/   LinkedIn – http://www.linkedin.com/company/WebExpenses   Twitter...
Anti Bribery Act & its Implications on the Pharma Sector
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Anti Bribery Act & its Implications on the Pharma Sector

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Sanjay Parekh, MD at Web Expenses talks about the –
- Looming threat to Big Pharmas in the UK
- Drug representative battalions
- Need for greater transparency

WebExpenses is an award winning provider of web-based expenses solutions software serving customers across a diverse range of industries and sizes. WebExpenses was set up to offer a simple, innovative solution to the often manual and time consuming task of managing expenses.

Trusted by over 300 clients and used by thousands of employees in more than 60 countries, WebExpenses’ award winning expenses solutions processes £millions in travel and entertainment (T&E) spend a year. Customer implementations range from small organisations with a handful of users to those with several thousand users scattered across multiple divisions across the globe. Delivering rapid ROI, WebExpenses helps organisations increase efficiency, control employee spend and drive down operational costs.

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Anti Bribery Act & its Implications on the Pharma Sector

  1. 1.  Sanjay Parekh, MD at Web Expenses talks about the – ◦ Looming threat to Big Pharmas in the UK ◦ Drug representative battalions ◦ Need for greater transparency
  2. 2.  Drug Reps are an invaluable resource to both doctors & drug companies UK’s pharmaceutical industry employs 83,000 people and generates £29.3 billion of exports in 2009 Britain’s medical-rep sales force may soon come up on SFOs legal radar The pharmaceutical industry could be placed in severe financial and legal peril by the latest Bribery Act
  3. 3.  Britain’s healthcare and pharmaceutical sector lacks transparency British pharmaceutical companies do not disclose their sales and sponsorship spending The PMCPA recently found leading international drug companies were spending millions on hospitality, in order to forge close links with doctors, nurses and staff who hold the purse strings to the NHS’s £12 billion drug budget Recent US company figures show that one pharmaceutical giant spent £2.24 billion of its budget on “marketing, sales and admin costs” in UK
  4. 4.  The latest Bribery Act has the power to impose limitless fines and 10-year jail terms The Act – ◦ Outlaws the provision of any financial or other incentives to “perform an act improperly” ◦ Bans doctors from requesting, agreeing to receive, or even accepting any inducements ◦ Holds company Directors responsible for any bribes by employees or associates, even if they were unaware of them ◦ Applies to any foreign companies deemed to have a business connection to Britain
  5. 5.  The PMCPA revelations will raise alarm bells in many corporate boardrooms as some of the world’s major medicine giants figure prominently in this report Cephalon were found to have provided “inappropriate hospitality” to 13 health professionals at a medical congress Pfizer were accused of hosting parties and providing overnight stays at luxury hotels Napp was accused of taking 17 delegates on business- class flights to Canada
  6. 6.  The ABCP recently found Abbott Laboratories guilty of splashing out thousands of pounds on alcohol-fuelled trips for doctors to Wimbledon, race-courses and even strip- clubs Abbott Laboratories admitted the hospitality activities for which it was penalised were never even checked by Head Office because the expenses claims did not exceed £4,000 The company claimed it was unaware of these activities and blamed a “narrow silo” of its employees However, under the latest Bribery Act, this is no defence
  7. 7.  Companies are no longer liable for acts of bribery if they can prove they had adequate systems in place to enforce the law in their business They are ending their reliance on FDs to combat frauds The pharma industry will have to turn to novel solutions to avert prosecution Companies will have to enforce tough expenses-rules by requiring employees to enter claims on the move as soon as costs are incurred
  8. 8.  Our software enables expenses claims to be both entered and checked remotely from any location, providing an instant portal into the activities of all company sales-reps The software instantly notifies employees and FDs of unlawful claims whenever a claim breaches company policy These systems act as bullet-proofing against false allegations, because the full, up-to-the-minute audit-trail is safely held in a central online repository and can be made instantly-available to regulators
  9. 9. Do you wish to know more aboutthe UKs Anti-Bribery Act?Download our PDF to understandthe implications of the Act acrossthe entire Industrial sector.
  10. 10. Contact Us – Website – http://www.webexpenses.com/ LinkedIn – http://www.linkedin.com/company/WebExpenses Twitter – http://twitter.com/WebExpenses Facebook – http://www.facebook.com/WebExpenses YouTube – http://www.youtube.com/user/WebExpenses

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