Pharmacovigilance (PV) is defined as the science and activities relating to the detection, assessment, understanding and prevention of adverse effects or any other drug-related problem.
The aims of PV are to enhance patient care and patient safety and to support public health programmes by providing reliable, balanced information for the effective assessment of the risk-benefit profile of medicines. The ultimate aim is to reduce the risk and increase the benefits associated with a medicine.
The decision to approve a new drug is based on it having a satisfactory balance of benefits and risks, based on the information available at that time. Once a product is marketed, new information will be generated, which may have an impact on the benefit-risk profile of the product. The detailed evaluation of the new information generated through pharmacovigilance activities is important for all products to ensure their continued safe use.
LIFEPharma has a wide portfolio of pharmaceutical products, along with many new products in development that are all thoroughly tested prior to distribution. In accordance with guidelines from various regulatory bodies, LIFEPharma has developed its own pharmacovigilance system that takes care of reported adverse effects stemming from any registered products across the globe.
LIFEPharma also aspires to be the marketing authorization holder across the globe, making us more responsible and accountable to match with world’s latest pharmacovigilance procedures.
The presence of the following elements ensures a stronger PV system in LIFEPharma:
LIFEPharma plans to include usage of electronic applications in its pharmacovigilance system to make it more reliable, user friendly and to generate data that could be useful for reporting to various regulatory bodies across the world.