The TGA have published new Guidance for ASX announcements.
Listed and unlisted companies have continuous disclosure obligations under the Corporations Act 2001 for listed and unlisted companies are to ensure market integrity and investor protection. ASIC can issue infringement notices for breaches of these obligations.
The TGA have developed guidance to assist companies understand and comply with the requirements for advertising therapeutic goods when making announcements to comply with their continuous disclosure obligations, and ensure they do not constitute advertising therapeutic goods to the public. The guidance also provides examples of what the TGA may and may not consider to be advertising material – which continues to be regulated by the TGA.
This piece was developed in response to entities claiming that certain posts on social media etc. were to meet continuous disclosure requirements, when social media posts are generally considered advertisements if about therapeutic goods and not continuous disclosure announcements.
Please read today’s full tech alert for more details.