The previous French Government, just before leaving office, partially completed the new French health care regulation enacted in December 2011, which implements what can be called the “Sunshine Act à la française.“ Under this new regulation, health care and cosmetic companies operating in France are subject to new transparency requirements, comparable to the U.S. “Sunshine Act.“ In addition to imposing a general disclosure obligation on any company manufacturing or commercializing products with a medical or cosmetic purpose, this new regulation:
- Sets forth considerable change in regulatory monitoring by a new government agency
- Creates new and huge standards concerning transparency requirements that are broadened far beyond solely the health care industry, since the cosmetics industry is also concerned
- Implements important changes in the way advertising will be done in France for pharmaceuticals and medical devices
In this 1-hour program, Reed Smith partner Daniel Kadar will assess this new regulatory framework in France and how it may affect health care and related companies.