RESEARCH TRIANGLE PARK, NC--(Marketwire - May 20, 2008) - Dedicated compliance departments
are becoming the norm at pharmaceutical companies. 59% of those surveyed
have a separate team devoted to company-wide compliance, according to a new
report by Cutting Edge Information. The study, "Monitoring and Ensuring
Pharmaceutical Compliance," shows that pharmaceutical companies are taking
a more aggressive stance on compliance matters by having dedicated
departments involved in the chain of development
(
www.pharmacompliancemanagement.com).
As regulations are constantly changing and pharmaceutical companies need to
have a targeted focus, compliance departments have become a highly
important part of the company as a whole. Many organizations have outgrown
the concept of a non-dedicated compliance department or a compliance
department that acts as a sub-function of another team. The result has
been a corporate shift towards the dedicated compliance department which
has the resources and capacity to stay up to date on the latest regulatory
changes.
"Compliance groups have certainly become more strategic in nature," said
David Richardson, senior analyst for Cutting Edge Information and lead
author of the study. "With a dedicated compliance team, organizations have
become more proactive in the way that they train employees, prevent and
manage litigation and develop new products."
The 104-page report makes its case with 300+ metrics and numerous insights
and industry best practices for managing these three aspects of the
regulatory landscape:
-- Structure, Headcounts and Investment -- Provides up-to-date
structuring strategies, headcounts and investments of top compliance
groups
-- Monitoring and Ensuring Compliance -- Details companies' strategies
regarding monitoring, training, testing, documentation, firewalls, and
much more
-- Activities and Challenges -- Examines the focus and reach of top
compliance functions as well as the impact and reactions companies have
made to recent regulations. Survey respondents also rate the challenges
facing compliance efforts forward.
Key metrics and topic areas in the new pharmaceutical report include:
-- Compliance structures
-- Compliance training and testing methods
-- Firewalls
-- Corporate Integrity Agreements
-- Standard Operating Procedures
-- Risk Assessment
-- Audits
-- Live monitoring
-- Functions trained by compliance departments
-- Benefits of documentation
-- Impact of regulations on companies' practices
To download a free, online summary of this report, visit
www.pharmacompliancemanagement.com.
Contact Information: CONTACT INFORMATION:
David Richardson
919-433-0216.