The majority of posts in this forum seem to focus GRC in financials - understandably on the background of the recent crisis that was caused largely by undue risk taking. However, there is one other industry in which lack of compliance and unmanaged risks may not only affect our wallets but go virtually go under our skin: Pharma.
With economic pressures all on the rise and new product successes at a low a number of companies apparently decided to promote and sell their products to people that might not actually need or benefit from them. Over at BMJ Melanie Newman posted an interesting article (BMJ 2010; 341:c5095) discussing how the FDA, the regulating agency in the US, is now tightening the leash on such practices. After failed attempts to address the problem with sanctions on corporate level regulators now might be getting personal. CEOs should be on their guard and stay on top of their processes.
Read the article here: http://www.bmj.com/content/341/bmj.c5095.short?rss=1
For hints on how to get and keep governance and risk under control you may want to visit www.grc-lounge.com
