Friday 02 December 2016
Life sciences law, the entire range of legal practice for the life sciences industry, has become increasingly important in recent years. This can be said because the number of additional legal provisions and regulations regarding drug safety, pharmacovigilance, quality management, distribution, reimbursement and collaboration with healthcare professionals or patient organisations has increased significantly. However, this is not the only reason. Heeding Warren Buffett’s famous warning, ‘It takes 20 years to build a reputation and five minutes to ruin it,’ pharmaceutical manufacturers and manufacturers of medical devices are increasingly willing to comply with these additional legal requirements and rules, in particular regarding collaboration with healthcare professionals and patient organisations. After the breast implant scandal in late 2011, pharmaceutical and medical device companies are now, more than ever, under public pressure to observe the respective requirements set out by legal provisions, directives and industry guidelines.