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CCTCC Fair Market Value (FMV) Working Group (WG)

 

 

CCTCC Fair Market Value (FMV) Working Group (WG)

 

On March 6th, representatives from several healthcare institutions and pharmaceutical companies met in Toronto to take part in the Fair Market Value (FMV) initiative working group (WG), led by the Canadian Clinical Trials Coordinating Centre (CCTCC). Among the participants, Maisonneuve-Rosemont Hospital and the Center hospitalier universitaire de Montreal were represented by their liaison coordinators, respectively Cynthia Lévesque and Anrrieth Paredes.

 

CCTCC was created to strengthen the Canadian clinical trials environment and promote Canada as a leading destination for clinical trials globally. This involves addressing bottlenecks which delay trial start-up, such as contract negotiations, and more specifically budget negotiations. As a result, the FMV WG set up by CCTCC aims to identify aspects of the budget negotiation process that could be made more efficient or clarified for all parties, as well as to introduce operational efficiencies such as best practices and benchmarks in order to accelerate budget negotiations.

 

After holding several teleconferences, the CCTCC FMV WG met for the first time in person on March 6th, 2017 to enable pharmaceutical companies and sites share their vision and discuss the various economic and financial factors involved. The WG’s outcomes may specifically focus on the potential of closer partnerships between sites and pharmaceutical companies that would help improve treatment access for patients and trial effectiveness, as well as demonstrate the profitability of clinical trials and Canada’s competitiveness on an international scale.

 

For further information, visit cctcc.ca.

 

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