Following a consultation, legislation was introduced in the Ontario Legislature on September 27, 2017 that will require pharmaceutical and medical device manufacturers to disclose financial relationships to healthcare professionals and organizations.
The Health Sector Payment Transparency Act is one of several acts introduced by Bill 160. It will require manufacturers, wholesalers, marketing firms, and others to periodically disclose details about transfers of value, both monetary and non-monetary, including the names of the parties to the transaction, a description of the transfer, and a dollar value for the transfer. Many of the details, including the frequency and method of reporting are to be prescribed by regulation.
The Act, if passed, will come into force on a date to be set by proclamation.