Why is Pharmacovigilance Important Within The Pharmaceutical Industry?
Pharmacovigilance (PV) also known as drug safety is a term that described the collection, analysis, monitoring and prevention of adverse effects in drug and therapies. Pharmacovigilance is a method used to determine which adverse events cross the line of drug efficacy. This process analyses which side effects are worth the risk to patients in addition to how effective they are at treating a disease.
Why is Pharmacovigilance important?
Pharmacovigilance is recognised as the most essential function within a life science company. This is because, to manufacture a drug, companies must adhere to strict regulations which are in place. A lot of these regulations will focus on the patient’s safety and the added benefit to the patient resulting from the drug.
What is clear is that pharmacovigilance will remain an important part in the development of new drug and therapies in the futures. This is because drug development companies want to improve and save patients’ lives worldwide.
Benefits of Pharmacovigilance –
One benefit of Pharmacovigilance is that it’s a critical component for determining the benefit to risk ratio of treatment. The potential for drug toxicity is determined throughout the lifetime of use of a drug including the development cycle.
Future of Pharmacovigilance
Pharmacovigilance has already seen a significant shift due to changes in legislations within (GVP) Good Pharmacovigilance Practices GVP guidelines. The new legislations in place have put a much greater emphasis on patient safety meaning that pharmacovigilance has far more of a central role to play.
In addition to this, Pharmacovigilance programmes require strong links with regulatory bodies to ensure that the specialists are briefed on safety issues in everyday practice. Regulators recognise that pharmacovigilance plays a significant role in ensuring ongoing safety of medical products.
To learn more about Pharmacovigilance, attend our Pharmacovigilance session at this year’s Clinical Operations in Oncology Trials East Coast 2018 event. If you would like to attend this year’s event, Register today and Quote MK-BPS1
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