Disclosure of Transfer of Value

Our Health Innovation Network

The collaborative relationships we have with our partners is key to how we drive innovation, to solve health and care challenges, that result in improving the health and wealth of the West Midlands community, and beyond.

As part of our remit, we have a duty to develop our relationships and share resources to increase our capacity, and capability, in pursuit of delivering better healthcare.

At times, as part of these working relationships, we may receive donations and grants and, or, shared joint working agreements with industry and other partners.

At the heart of our all our decision making, we:

  • Put the needs of patients first;
  • Improve value for public money;
  • Align local with national priorities;
  • Are open and transparent about our ways of working; and
  • Take a balanced, whole systems approach to healthcare.

In line with our values, we want to ensure that we are open and transparent about these relationships and that is why, from 30 June 2022, we will publish disclosures of transfers of value.

Transfer of value is defined by the Prescription Medicines Code of Practice Authority as a direct or indirect transfer of value, whether in cash, in kind or otherwise, in connection with the development or sale of medicines.

A direct transfer of value is one made directly by a company for the benefit of a recipient. An indirect transfer of value is one made by a third party on behalf of a company for the benefit of a recipient where the identity of the company is known to, or can be identified by, the recipient.

As with all Health Innovation Networks, we have taken guidance from the Association of British HealthTech Industries (ABHI) code of ethical business conduct, and the Association of the British Pharmaceutical Industry (ABPI) code of practice.

Read more about the codes here:

The codes apply to all industry interactions whether they are ABPI / ABHI members, or not.

Our disclosures are published monthly:

June 2022
July 2022
Disclosure Lipids – August 2022 
Disclosure CLF – August 2022 

If you have any queries about our disclosures, please email: amy.owen@healthinnovationwm.org