United Parcel Service surveyed 375 pharma industry executives and found that not only are compliance issues troublesome to participants, but updated regulations are altering the operations of the pharmaceutical industry. In a recent article written by Gareth MacDonald, entitled Regulation, theft and payors dominate pharma supply chain concerns, says UPS, UPS spokesman stated “increased regulatory scrutiny is one factor driving attentive focus on compliance through the supply chain.”
Overall, survey participants found two main sources of conflict: the current state of the economy and the heightened occurence of theft. Participants shared that the economy’s current state is contributing to the adverse effects on government reimbursement decisions.
Furthermore, this is causing companies to reduce investment in their supply chains. Theft has also proven to be an intensified issue for pharmaceutical supply chains. The increased amount of controlled substances in the market causes security to become a much bigger issue than before. Particpants shared that high profile distribution facilities are being targetd and theft is reoccuring during shipment deliveries.
Undoubtedly, drug makers’ concerns pertaining to supply chains are warrented. The pharmaceutical industry is affected by these regulatory changes and distribution services and supply chain experts could benefit from staying up to date with current issues.
To learn more about what UPS had to say, click here and read the full article.