UK biotech trade group adopts new code of practice:
This article was originally published in Clinica
Members of the UK BioIndustry Association (BIA) have voted to adopt a new code of practice which sets a national industry standard and aims to help biotech companies in their dealings with the financial community. The code is designed to encourage better communication between biotechnology companies and their investors and to ward off the threat of government regulation. The code, which was adopted following extensive industry consultation, will apply to all listed companies which are members of the BIA. The association is also encouraging non-member companies to adhere to the code. Companies will be expected to comment on their compliance, or reasons for non-compliance, in their annual reports. The date for compliance has been put back from October 1999 to January 2000 to allow companies time to put the necessary procedures in place.