CUED Publications database

Regulation: A burden in biopharmaceutical industry? The case of EU-risk management plans

Walton, C and Heffernan, P (2010) Regulation: A burden in biopharmaceutical industry? The case of EU-risk management plans. PICMET '10 - Portland International Center for Management of Engineering and Technology, Proceedings - Technology Management for Global Economic Growth. pp. 2877-2887.

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Abstract

The generation of new medicinal products is both a contributor to global economic growth and a source of valuable benefits to human health. Given their direct responsibility for public health, regulatory authorities monitor closely both the development and exploitation of the underlying technologies and the products derived from them. The manner in which such regulation is implemented can result in regulators constraining or facilitating the generation of new products. This paper will study as an example the impact of EU Risk Management Plans (EU-RMPs), which have been mandatory for the approval of new medicines since 2005, on both the industry and regulatory authorities. In interviews, the responses of those who had experience of the implementation of EU-RMPs were mixed. Although the benefits of a more structured and predictable approach to the evaluation of risk were appreciated, some respondents perceived the regulation as an excessive burden on their organisations. The exploration of factors that influence how EU-RMP regulation affects individual firms provides new insights for both regulators and managers, and demonstrates one aspect of the complexity of the process by which new medicinal products are brought to market. © 2010 IEEE.

Item Type: Article
Subjects: UNSPECIFIED
Divisions: Div E > Strategy and Policy
Depositing User: Cron Job
Date Deposited: 07 Mar 2014 12:19
Last Modified: 28 Nov 2014 19:06
DOI: