6 TECH OUTLOOKMay-June, 2017Copyright © 2017 ValleyMedia Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.MAY-JUNE, 2017Mailing AddressValleyMedia Inc.44790 S. Grimmer Blvd Suite 202, Fremont, CA 94538T:510 230 0395, F:510-894-8405 MAY-JUNE, 2017, Vol 03 - 04 Published by ValleyMedia Inc. To subscribe to Pharma Tech OutlookVisit www.pharmatechoutlook.com Editor-in-ChiefStacey SmithEditorial StaffSalesVisualizerMatt RyderChetan.NAaron Pierce Ava GarciaJenna VegasJoshua ParkerJustin SmithMelissa ReaktinwaltCompliance SpecialRichard Watson richard@pharmatechoutlook.comEditorialStacey Smith Editor-in-ChiefA transformation in health economy is creating fresh wave of challenges for the pharmaceutical and life sciences companies. Not all companies can live up to the expectations of the new "patient first" economy, as many of them fail to understand the full scope of compliance risk in the new landscape. To survive, successful firms are moving away from the traditional, top-down model of manufacturing and product promotion toward a flexible, interactive approach that will give patients better tools and information about the drugs they take. While taking on these initiatives, companies should ensure that all their efforts--on a holistic level--are underpinned by compliance standards.Pharmaceutical industry is historically known for its adherence to stringent compliance rules, in dealing with malpractices across the value chain. Any violation of regulatory methods or non-compliance of standards--from improper branding to masking safety information and disregarding quality manufacturing standards--could tarnish a company's reputation, risking the future. Reputation problems will have a severe impact on revenue, loss of brand value and regulatory investigation. Companies must continuously adapt to changing regulatory requirements while effectively managing the associated costs and resources required to fulfill those requirements. Compliance management solutions that take a holistic, proactive approach is the need of the hour. These solutions will help companies identify the risk and manage it--from realizing quality issues before they impact the production to ensuring the authenticity of their supply chains. Coupled with this, companies should also make regulatory compliance a part of their corporate strategy. It should include effective training, timely communication, regular internal monitoring and auditing, and support from the top management to compliance initiatives.That being said, companies should be able to transform compliance from being a "cost" to one that "delivers value and competitive advantage." On that note, we present to you a special edition on compliance. The companies featured in this edition offer innovative products, coupled with outstanding support, to energize your compliance initiatives.Let us know your thoughtsA Holistic Approach to ComplianceTECH OUTLOOKTECH OUTLOOK*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff
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