This lesson covers important concepts related to the pharmaceutical industry in Europe. You’ll learn about EFPIA, fair market value, the host country principle, and terms like medical education and medical samples. EFPIA stands for the European Federation of Pharmaceutical Industries and Associations, which is the main body representing the pharma industry in Europe. They create guidelines called the EFPIA Code of Practice. Fair Market Value means the amount paid for services that both parties agree on as fair, based on local rates in the professional’s country, even if services happen elsewhere. The Host Country Principle means that when providing meals at events, the local country’s spending limits apply. Informational or Educational Materials are low-cost items directly related to medicine or pharmacy that help patient care. Items of Medical Utility are affordable tools designed to help healthcare professionals learn and give better care. Medical Education covers training on health, diseases, and product-related information that is not promotional. A Medical Sales Representative is someone employed or contracted to talk with healthcare professionals about medicinal products. Medical Samples are free medicine samples given to qualified professionals so they can learn about new products. Lastly, Prescription-Only Medicines (POM) are drugs that can only be given with a prescription.
