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Managing growth through better compliance management
A survey report
The Indian Life Sciences sector is undergoing major changes driven by changing business and consumer needs that are closely mirrored by regulatory changes. The fast pace of growth in the sector has been accompanied by instances of regulatory non-compliance discovered in the course of regulatory body inspections, impacting the reputation and business prospects of the companies involved.
To understand how life sciences companies in India are managing the challenges of regulatory non-compliance, and their views on the state of internal controls as well as drug production standards, Deloitte India released a survey report on 3 June 2015.
The report discusses the following:
· Why non-compliance can hinder growth prospects
· Instances of non-compliance observed in the sector
· Factors contributing to non-compliance
· Challenges in compliance management
· Roadmap for building an effective compliance management system