According to Euromonitor International, the consumer health industry in the U.S will remain a big part of the country's growth and development. The industry is projected to reach US$77 billion by the year 2021.
However, change is in the air with the change of administration. For instance, a meeting was held on January 31st with President Trump, executives of pharmaceutical companies and the head of the industry's lobbying group. At the meeting, the President said that the industry should increase local production and reduce prices. While pharmaceuticals and nutraceuticals have their own regulatory bodies, this could still be an indicator of things to come from the current administration.
Just the Beginning
It is expected that the aforementioned meeting is the start of a long period of negotiation between pharmaceutical companies and the new administration. Not only could the approval period for new drugs be sped up, but there could be a change in regard to regulatory jobs.
Michael McGuffin, the President of the American Herbal Products Association (AHPA) made a statement published on Nutritional Outlook incidcating that President Trump seems ready to reinforce self-regulatory initiatives by weakening federal regulations. McGuffin advises that the industry stay actively engaged to make the most of the opportunities that will be created by the changes that are coming.
The changes predicted will mean that a lot of regulatory jobs could open up. Self-regulation will mean that manufacturers of pharmaceuticals and nutritional supplements will have to put together their own regulatory staff.
The regulatory staff is involved in the development of products right from the start. When pharmaceutical, pre-clinical and clinical development plans are being drafted, they are involved in advising on regulatory restraints and requirements.
At the moment, regulation at the development stage is done through consultations with regulatory agencies like the FDA. The regulatory staff makes sure that the data and information to be conveyed to regulatory bodies are correctly formatted, come up with the regulatory strategy, organize meetings with agencies, and compile briefing documents. These experts take charge of all the communication with regulation agencies and are involved in the life-cycle management until the end.
U.S Executive Search Firm for Regulatory Jobs in the Nutraceutical Industry
Those looking for regulatory jobs and manufacturers in the nutraceutical industry can find regulatory staff from executive search firms serving this industry. These recruiters help companies and those with the right skills and experience to find each other.
Also, it may make better financial sense for a manufacturer to outsource the function of hiring staff. There are large global firms offering recruitment services and smaller ones specialized in one area of regulation or a particular region. It is important to find the right recruiter to get the right talent with the required skills, knowledge and experience.
Expert executive recruiters have a broad if not complete range of services including;
- Assessment services where executives are assessed for competency.
- Executive search which involves finding executives for the industry including regulatory staff.
- Strategic selection which is where staff are selected through a scientific process.
- An exhaustive talent pool which would be one with wide reach in different locations and that can fill all levels of regulatory staff from the lowest up to the highest, executive positions.
As a manufacturer, don't wait for the last minute to start looking for the right talent from executive recruitment agencies. Start the search process now so that when the changes come, your can carry on with normal operations with the right talent carrying your forward.