The amount refers to company investments in the years ahead to comply with the serialization and traceability Law – ANVISA; the market should also generate new job opportunities.
With the launch of the National System of Medicines Control Serialization Plan (SNCM) this October, as regulated by the National Health Surveillance Agency (Anvisa), the pharmaceutical market should invest about R$ 1 billion in the coming years, and also open new opportunities in the labor market. Under the SNCM, all Brazilian companies that make up the pharmaceutical chain – industries, distributors, logistics and pharmacies – have until April 2022 to implement serialization and traceability operations. This new format will bring improved safety and transparency to consumers.
In Brazil, the number of pharmaceutical industries ready to comply with the new legislation is very small. According to the calculations of Brian Sanz, CEO and co-founder of the company TrackTraceRX specialized in serialization systems, there are more than 400 factories in the country that will need to adapt to Anvisa’s Regulatory Instruction by next year. “Not counting the huge amount of distributors, logistics companies and pharmacies, which also need to comply with the Regulation,” he explains.
The CEO estimates that this change will trigger billion-dollar investments in Brazil. “The transformation of factories, distributors, logistics companies and drugstore chains should trigger investments of over R$ 1 billion in the next few years in order to implement serialization and traceability systems.
In addition to the existing requirements, the regulatory framework will also require hiring, training and educating professionals to use the new technology and terminology that does not currently exist in Brazil. As a result, there will be opportunities in new fields of work for a variety of professionals.
Brian Sanz recognizes that the Brazilian market is very different from the United States, where TrackTraceRX has been operating for years serving the pharmaceutical sector and where serialization and traceability are already a reality. “The number of companies in the pharmaceutical chain in Brazil and the potential delay in investments will trigger a great race against time and it is possible that demand will then be much higher than actual supply, and could cause delays in system delivery,” he warns.
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