Whilst drug safety can be a source of competitive advantage, there is a greater mutual benefit in sharing experience and common challenges.

Pharmaceutical and biotech organisations carry the responsibility for their patient's safety.  In these businesses, drug safety is a life critical process where these organisations are responsible for reporting and managing all adverse drug reactions, and associated risks.  It's a highly regulated aspect of the business, with the EMEA and FDA watching over in Europe and the USA.

It's also one that is constantly changing.  Not only has there been an increase in the number of adverse events and the complexity of new drugs, but new legislation is often introduced, and existing regulations are continually updated.  Compliance is rigorously monitored and organisations are subject to reporting rules and audits.  The price to pay for non-compliance is high - warning letters that risk the global reputation of the drug safety teams, and product withdrawal, which can cost the company millions of dollars and many staff jobs.

To read the article in full, please click on the pdf link below:

Networking to reduce risk.pdf