There are several major challenges faced by generic drug manufacturer are mentioned below:
Quality Control
Ensuring the consistency and quality of drugs is a major challenge, particularly with the increasing globalization of the pharmaceutical industry. Companies must comply with a wide range of regulations and standards, and there are concerns about the quality and safety of drugs manufactured in some countries.
Supply Chain
The pharmaceutical supply chain is complex and global, and ensuring the safety and quality of drugs throughout the supply chain is a major challenge. This includes ensuring that raw materials and ingredients are sourced from reliable suppliers, that drugs are manufactured and packaged properly, and that drugs are distributed and stored under appropriate conditions.
Counterfeit drugs
Counterfeit drugs is a major problem in many countries, and it is becoming increasingly difficult to detect and prevent these fake drugs from entering the supply chain. This is a risk for both patients and the pharmaceutical industry.
Pandemics
With the outbreak of pandemics such as COVID-19, the demand for certain drugs and medical supplies has increased dramatically. This has led to shortages and disruptions in the supply chain, making it difficult for manufacturers to keep up with demand.
Data integrity
As mentioned, data integrity is a growing concern, as it can lead to the release of unsafe or ineffective drugs into the market, which can have serious consequences for patients.
New drug development
The high cost and longtime of developing new drugs is a major challenge for the pharmaceutical industry. It can take up to 10-15 years and billions of dollars to bring a new drug to market.
Innovation
It is challenging to keep up with the latest technology and scientific advancements in the pharmaceutical industry, as well as to remain competitive in the global market.
Environmental and safety concerns
As the industry is becoming more conscious about environmental and safety concerns, companies are now facing challenges to ensure that their manufacturing processes are eco-friendly and safe for the environment and employees.
These challenges are constantly changing, and pharmaceutical companies must be adaptable and proactive to stay ahead of these challenges and ensure the safety and effectiveness of the drugs they produce.
Read also: Top 50 Pharma Companies in the World
Resource Person: Saket Yeotikar
