You know that feeling at the end of every year when you’re super excited to finish the year high.
You set your objectives for the year and plan out what you want to accomplish.
Everything seems possible.
Here comes October. When you review your figures and performance for the 3rd Quarter then, you may find that you already exceeded the numbers and your performance; then it’s really good, but in most cases, it’s a wake-up call because:
🔹The assumptions you made at the beginning of the year were not near reality.
🔹You did not put good infrastructure to measure your numbers and act quickly and accordingly where you are lacking behind
🔹Inflation hit you and you did not react well in advance to do something about it.
🔹One of your big clients is no longer buying from you and you are struggling to find new clients to fill the gaps with your limited portfolio
🔹You are not awarded the tender you were hoping for
🔹Your Cost of Goods has gone up, which reduces your margins and EBITDA
🔹You did not do the review of Q2 at all as you think that we will pick up in Q3
Hang on, what does all this have to do with your regulatory affairs matters? Do you wonder why it’s so hard to overcome regulatory affairs challenges? This is where most of us did not think about the hidden potential of regulatory affairs. I have listed few:
🔹Involving regulatory affairs early in the process to give you a realistic picture (not a pessimistic picture)
🔹Acquiring new licences or potential company acquisitions with regulatory affairs support
🔹Reducing your COGs like buying the material from another source and regulatory is getting you rapid approval
🔹Expanding your portfolio to different geography by registering your existing products in new territories as per your strategic plan and regulatory affairs is getting you approvals before your deadlines
🔹Develop your own product or via a third party and get your product approved to meet the growth targets of coming years
🔹Brand optimisation or gaining competitive advantage through your product information and regulatory is making this happen rather than saying to the commercial that it is not possible
Above are a few ways regulatory affairs can contribute towards numbers but I have a lot more hidden gems that can transform regulatory affairs into your growth accelerator rather than a growth decelerator.
Get all your possibilities laid out on the table to see which ones you want to focus on as your most important priorities to change this year’s results and actually exceed the numbers.
If you want to get your product to the market as fast as possible – while keeping quality, efficacy and safety at a level that’s second to none – so that you can change people’s lives and hit this year’s numbers, then it’s time we talk.
Book a call with us, and let’s sprinkle some regulatory magic on your path. Together, we’ll ensure that your amazing products reach patients without unnecessary detours. It’s time to unlock the simplicity in regulatory affairs!
Click here to book your call now
In this concise yet impactful call, we’ll:
🔍 Learn about your business and the regulatory challenge at hand.
🎯 Gain a crystal-clear view of your goals and identify potential regulatory hurdles.
🔧 Develop tailored regulatory solutions to tackle your most pressing challenges.
Best regards,
Aziz
#RegulatoryAffairs #BusinessGrowth #Q3Results #Pharmaceutical