Latest news with #AssociationoftheBritishPharmaceuticalIndustry
Yahoo
19-03-2025
- Business
- Yahoo
UK Pharma Industry Trade Association Restores Wegovy/Ozempic Maker Novo Nordisk's Membership After 2 Years Of Suspension
On Monday, Novo Nordisk A/S (NYSE:NVO) returned to full membership of the Association of the British Pharmaceutical Industry (ABPI) following extensive audits of the Wegovy maker's compliance procedures and governance by the Prescription Medicines Code of Practice Authority (PMCPA). The Association of the British Pharmaceutical Industry is the trade association for over 120 companies in the U.K. In March 2023, the ABPI Board decided to suspend Novo Nordisk from membership of the ABPI for two years following a complaint related to a LinkedIn post that did not make clear Novo Nordisk's involvement nor state whether it was a promotional or non-promotional meeting for its obesity that the course was for a therapy area, Novo Nordisk was involved in and ended up giving a Patient Group Direction (PGD) to ensure that even non-prescribers could indirectly prescribe its product. This appeared to be promotional. The complaint alleged that the PGD given was part of what Novo Nordisk offered individual health professionals. This had value and was given to individuals for their benefit to run private clinics, which was bribing health professionals with an inducement to prescribe. "Over the past two years, Novo Nordisk has responded positively and actively to the requirements laid down by the ABPI Board, and I am pleased to welcome them back into full engagement as ABPI members," said Richard Torbett, CEO of the ABPI, on Monday. In March, Novo Nordisk introduced NovoCare Pharmacy, a direct-to-patient delivery service to improve access to Wegovy (semaglutide) for cash-paying patients. The program offers all dosage strengths of the weight-loss medication at a reduced price of $499 per month for uninsured individuals or those whose insurance does not cover obesity treatments. Read Next: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — this is your last chance to become an investor for $0.80 per share. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Photo by KK Stock via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article UK Pharma Industry Trade Association Restores Wegovy/Ozempic Maker Novo Nordisk's Membership After 2 Years Of Suspension originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Reuters
17-03-2025
- Business
- Reuters
Novo Nordisk membership in UK pharma body restored after suspension
LONDON, March 17 (Reuters) - Danish company Novo Nordisk's ( opens new tab membership in a UK pharmaceutical industry body has been restored after a two-year suspension for breaching a national drugmakers practice code. The Association of the British Pharmaceutical Industry concluded it was satisfied the drugmaker had improved its compliance and governance protocols, the authority said on Monday. here. These protocols were audited by the Prescription Medicines Code of Practice Authority, which concluded the company had taken the needed steps to ensure adherence to the code. The association suspended Novo Nordisk in 2023 for not making clear its involvement in training on obesity drugs that the company offered to pharmacists on social media site LinkedIn. That year, Novo Nordisk became Europe's most valuable company, surpassing French luxury group LVMH, on the roaring success of its obesity drug Wegovy and diabetes drug Ozempic. During the audit initiated as a result of the suspension, the PMCPA publicly reprimanded Novo Nordisk twice for further violations of the code, including for failing to properly record and describe payments it made to individuals including patients and journalists. Novo Nordisk said it had considerably strengthened its compliance processes. "We firmly believe that we now have the right foundations and governance in place to be fully and effectively self-regulating." Maggie Fick Thomson Reuters Maggie is a Britain-based reporter covering the European pharmaceuticals industry with a global perspective. In 2023, Maggie's coverage of Danish drugmaker Novo Nordisk and its race to increase production of its new weight-loss drug helped the Health & Pharma team win a Reuters Journalists of the Year award in the Beat Coverage of the Year category. Since November 2023, she has also been participating in Reuters coverage related to the Israel-Hamas war. Previously based in Nairobi and Cairo for Reuters and in Lagos for the Financial Times, Maggie got her start in journalism in 2010 as a freelancer for The Associated Press in South Sudan.
Bloomberg
17-03-2025
- Health
- Bloomberg
Novo Reinstated by UK Pharma Body After Two-Year Suspension
Novo Nordisk A/S is a member of the UK pharmaceutical industry association again, following a two-year suspension for breaching the country's code of practice for drugmakers. The restoration of membership follows extensive audits of the Danish obesity drugmaker's compliance procedures and governance, the Association of the British Pharmaceutical Industry said in a statement Monday. The audits were carried out by the UK Prescription Medicines Code of Practice Authority, which administers the ABPI's code of practice.
Yahoo
17-02-2025
- Business
- Yahoo
Novo Nordisk reprimanded for allegedly failing to disclose payments
The manufacturer of the weight loss jab Wegovy has been reprimanded for allegedly failing to disclose or accurately report payments to healthcare and patient organisations. Novo Nordisk breached clauses under the Association of the British Pharmaceutical Industry (ABPI) code of practice, according to the Prescription Medicines Code Of Practice Authority (PMCPA). The company said it is taking the issue 'extremely seriously' and 'is dedicated to working transparently and ethically'. The complaint was made by three individuals, who were colleagues at two separate universities, regarding the alleged failure to report payments to two healthcare organisations. Following an 'in-depth investigation', the complainants claimed Novo Nordisk allegedly failed to report, inaccurately reported, and misreported payments to healthcare organisations and patient organisations between 2015 and 2022. The probe alleged 30 organisations were missed from the company's disclosures and claims Novo Nordisk misreported 65 payments. The PMCPA said Novo Nordisk accepted breaches of clauses 24.1, 24.4, 24.5, 27.7, 9.1 and 2 of the 2019 code and clauses 28.1, 29.1, 29.2, 31.1, 31.2, 5.1 and 2 of the 2021 code. These clauses include failing to document and publicly disclose annually certain payments made directly or indirectly to health professionals, other relevant decision-makers and healthcare organisations, failing to make publicly available a list of patient organisations which it supports, and failing to make disclosures annually in respect of each calendar year in the first six months after the end of the calendar year in which the payments were made. It added that its panel 'decided on balance not to report Novo Nordisk to the code of practice appeal board for it to decide whether the imposition of further sanctions was appropriate'. It noted that the company 'had been the subject of several cases in relation to the failure to appropriately disclose transfers of value,' adding that 'additional sanctions had been imposed and that Novo Nordisk was already the subject of the audit process at the request of the code of practice appeal board'. It said the 'matters raised in this case were closely similar to matters already before the appeal board both in terms of the nature of the matters considered and that the amount undisclosed was significant'. Novo Nordisk has its headquarters in Bagsvaerd in Denmark, and was founded in 1923. Among its products is semaglutide, sold under the brand names Ozempic and Wegovy, the latter of which has been approved to treat obesity on the NHS. A Novo Nordisk spokesman said: 'Novo Nordisk is dedicated to working transparently and ethically, taking the reporting of these historical transfers of value extremely seriously. 'In fact, most of the missed disclosures included in this case were already part of our self-reported voluntary admission in November 2023 to the PMCPA. 'For those that were not included in that admission, these have been captured through our improved processes and have been accurately disclosed. 'All transfers of value related to this case were related to legitimate activities, in line with the UK pharmaceutical industry's code of practice. 'We continue to strengthen our compliance framework in the UK and remain committed to adhering to the ABPI code of practice and maintaining the highest possible ethical standards required by the pharmaceutical industry.'
