Transparency disclosures


2015 Research & Development Transfers of Value

Biotie Therapies Oyj is a member of Pharma Industry Finland and therefore its subsidiaries are also indirectly linked to follow the European Federation of Pharmaceutical Industries and Associations (EFPIA) Disclosure Code. Biotie will disclose all Transfers of Value in scope of the EFPIA Disclosure Code which have been made directly or indirectly by a third party vendor (e.g. Contract Research Organisation) while conducting a clinical trial.

Biotie has made Transfers of Value in 2015 only in Research& Development (R&D) section which is reported as aggregate for each country involved. The information is published only in English; other languages are available upon request.

The information is collected from Biotie´s internal financial systems and third party service providers. The collected information is then validated and published annually on Biotie´s central website for all countries involved in R&D activities.

The published aggregate R&D Transfers of Value includes a value added tax (VAT) whenever possible. For example, the VAT regimes across Europe are complex and whether or not the VAT is a reimbursable cost varies by country. Any potential local taxes and/or social security costs are not included in the aggregate. The aggregates are published in the currency of the recipient´s country. If the original payment was made in any other currency, the figures have been converted based on the exchange rate by European Central Bank on the day payment was made.

The R&D costs include Transfers of Value related to planning, implementation and execution of Phase I to IV clinical trials (Directive 2001/20/EC). The costs include but are not limited to payments to investigators and other study site personnel (Health Care Professionals), Health Care Organisations and meetings related directly to planning and implementation of the clinical trial.

Czech Republic                  2.212.608,62 CZK  
Germany                                95.777,18 Euros
Italy                                      119.421,48 Euros
Spain                                      83.657,03 Euros

Additional information about the Disclosure Code can be found on EFPIA website, link

If you have any questions please contact Antero Kallio VP Clinical Development by e-mail:

Updated 30 June, 2016