BIA pledges a firm hand
Clearly influenced by the goings-on at British Biotech plc (LSE:BBG;BBIOY, Oxford) during the Millargate affair (see BioCentury Extra, May 20, 1998), the code lays down guidelines that all quoted BIA members will be expected to follow. They concern the composition of biotech boardrooms and how product development information is released. The code calls on companies to keep the board fully informed about R&D and regulatory progress and to ensure that their boards have a balance of non-executive directors experienced in business development and familiar with the risks of biotech product development.
The ground rules also stipulate that companies should disseminate information about products in development that is accurate and not open to misinterpretation...