Read the case study and learn from this practical example how to anticipate regulatory risks and opportunities in the consumer health and dietary supplements industry using RegASK’s cutting-edge technology tool.
Challenge
The client, a leading consumer health company, has been supplying vitamins, minerals, and health supplements across the Asia Pacific region. Their regulatory affairs team wanted to identify potential regulatory changes that could have an impact on their business in order to prepare in advance and make necessary adjustments to stay ahead of the competition. This requires close monitoring of local regulations in at least 20 countries where they are marketing to.
However, in the dietary supplements industry, the context of product usage and applicable regulations vary widely across countries. Dietary supplements can be classified differently depending on the country. A dietary supplement can be regulated as a food in one country but as a drug in another country. This is adding an extra layer of complexity to the ever-changing landscape of dietary supplement regulations that must be monitored to ensure safety and compliance.
To achieve this goal, the client has been relying on their in-house team to do the regulatory research by manually browsing the internet. However, with limited resources and headcounts, this approach resulted in the team struggling with different local language translations and being overwhelmed with numerous channels and resources to find relevant information.
The company, therefore, wanted to engage an external regulatory partner that could offer regulatory intelligence and monitoring services as an extension of its in-house team.
RegASK was selected by the client to monitor regulatory changes regarding the regulatory environment and government guidelines for 20 markets in Asia Pacific, including Australia, New Zealand, Singapore, China, India, Indonesia, and others.
Solution
- The first step was to determine the regulatory monitoring scope and the regulations to be monitored in each country. RegASK and the client worked together to come up with a list of keywords and regulatory topics to be monitored in association with the dietary and health supplements industry.
- RegASK used its AI-driven regulatory intelligence platform RegAlerts and local network of experts to set up keyword monitoring alerts. This step combines technology and human expertise to ensure that only relevant alerts are sent to the client, cutting through the noise and making the most of their time.
- To help the client achieve the observation of future trends, RegASK used horizon scanning methodology to generate reports and analytics through its technology tool RegInsights. The tool scans multiple websites and channels to detect early signals of potential regulatory developments and identify emerging trends which may impact the client’s business.
Results
With RegASK’s cutting-edge technology and regulatory expertise, the client was equipped with deep insights into the ever-changing regulatory landscape.
The RegAlerts platform automatically notified them of regulatory changes in a faster and more accurate way, saving them time and effort.
RegInsights provided the client with a deeper understanding of possible future regulatory trends, allowing them to anticipate regulatory risks and unlock the potential of new business opportunities.
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