Towards an Industry Advisory Group An Open Round-Table Conversation 19 May 2009. Do not copy or reproduce without express written permission of Foresight Group, LLC (Foresight). For more information, contact Foresight at [email protected] . Or visit our website: www.foresight-grp.com.
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An Open Round-Table Conversation
Faced with the product design, manufacturing, marketing and sales restrictions and requirement as well as new reporting and documentation requirements to be mandated under a new regulatory regime, what should companies be doing now to prepare their organizations and their consumers?
Ultimately, agreement on a set of actionable guiding principles will allow the tobacco industry to better adapt and respond to the challenges of a new and ever-evolving regulatory environment.
Traditional Pharma approach - Each individual manufacturer develops their own interpretation/application of the proposed rules, and submits their own written response to health authorities
Alternative approach – Single task force composed of representatives from all manufacturers collectively discuss proposed rules and potential implications for industry, and coordinate a single written response to health authorities
Each tobacco manufacturer will need to evaluate how proposed regulations will impact their overall product strategies in both the near- and long-term
Traditional Pharma approach - Each individual manufacturer performs their own assessment and buys/builds their own technical solutions
Alternative approach - Industry performs collective assessment and establishes “global” technical industry standards and “industry technical solutions” that do not constitute a competitive advantage