Thought Leadership

In October, Canada became the first major economy, and second country, to legalize cannabis. While this policy shift will undoubtedly have consequences for consumers, law enforcement officials and others, it also presents new challenges for the cannabis manufacturers seeking to profit from what could be a $5 billion industry. As manufacturers compete for a limited number of licenses and confront an increased level of scrutiny, recall preparedness and a thorough understanding of regulatory requirements will be crucial to success.

Even when companies have a robust recall plan in place, preparing for a soon-to-be-announced recall is a stressful event. Companies must act quickly in order to satisfy regulatory mandates and mitigate risk. Here are four steps pharmaceutical companies should take to get ready for a recall: Ensure consignee data is up-to-date This is often one of the largest pain points for pharmaceutical companies in particular.

Drug recalls can be extremely taxing for all parties involved. From making sure there is a temporary replacement to checking the supply of the replacement and its reliability, companies face many challenges. Along with this complex process, manufacturers must ensure recall is handled properly and the affected drug is removed from distribution. However, by not finding a proper substitute, negative effects can ripple down to consumers and the pharmaceutical industry will have more issues on their hands.

A recent survey found that pharmaceutical recalls are among the types consumers consider most important – the ones most likely to catch their attention. With that kind of interest, it is vital for companies to execute recalls effectively and compliantly. And the key steps for managing pharmaceutical recalls are as complex as the regulations that govern them.

How to quickly locate and remove a recalled product Test your recall procedures with mock recalls Determine dangerous vs. defective recall products When President Barack Obama signed the 21st Century Cures Act into law in December 2016, he