The Pharmaceutical Industry has drastically changed over the last 50 years and there is no surprise that the Industry will experience even more changes as the Baby Boomers reach retirement and beyond. Pharmaceuticals themselves will prove to be more than mere tablets, liquids and solutions in a bottle. Instead, we may see products heavily influenced by technology, customized dosage, personalized tests and results, and certainly changing costs and processes that will provide healthcare across all channels of patients in a way that improves their overall care and medical experience.
With those changes and personal touches, not only will our one-on-one care experience heighten, but the labels needed for those items will increase and evolve. Any time a pharmaceutical company implements changes to their products, a new label must be created. Without an enterprise labeling process in place, an enterprise life sciences company could encounter potential risk areas that could affect their bottom line and ultimately, timely delivery of sensitive products. According to a recent Ernst and Young Global Life Sciences Report, consumer choice will trump and mold new supply chain models.
Having the ability to create the proper label at the proper time and to the correct printer or printers, is the competitive edge most companies strive for. Imagine how many labels would result from a customized pharmaceutical product for a niche patient market. Now imagine customizing the delivery of that personalized product. That’s a lot of new labels with specific data that cannot be misrepresented.
Do you have the best labeling practices in place now to flexibly solve customized labeling in the future?