Ethics and compliance in global pharmaceutical industry marketing and promotion: The role of the IFPMA and self-regulation

Companies in many industries are engaging in a changing business environment where the community is expecting greater transparency and ethical standards than in the past. This has been for a variety of reasons associated with globalization, technological and social changes. The pharmaceutical industry is one industry where such issues are regularly under the spotlight. In this context the IFPMA works with its member companies and national associations to enhance the agenda of self-regulation and ethical behavior. The global IFPMA Code of Practice, and the many national industry association codes that implement it, have evolved over time to help the industry take the lead in driving greater ethical standards and transparency. This article will review the current international business literature on ethics generally, review the functions and evolution of the IFPMA Code of Practice and examine some of the more recent evidence and analysis of the role of pharmaceutical industry codes, ethics and reputation in the pharmaceutical industry.