When bearing on optimizing vital resources for pharmaceutical research, companies need to make sure that they are not only making the most of their team and getting the right talent behind their project, but also that they are investing in the right places. When it comes to something as important and as sensitive as drug studies and toxicology, making bad calls can cost millions and at the same time, put at risk a lot of lives dependent on timely new medication.
TigerTox, one of the leading consultancies in the industry, knows this very well. This is why they devote so much time and money into getting the job done right, while ensuring that they are creating as much value as possible for their clients. These strategies are certainly paying off, with TigerTox having amassed an impressive record of meeting the deadlines given by their partners, as well as executing every part of every study in a highly efficient manner. How do they do it? One crucial aspect is embedded in their work plan, which relies on a robust legal framework to ensure a streamlined, hassle free experience for their clients.
One such tool involves the use of protecting power agreements, a form of legal contract that may be necessary when dealing with research carried out across multiple countries and sometimes even on multiple continents. The main purpose of the protecting power agreements is to avoid the issues that may arise from dealing with different legal regulations abroad, regarding the management of studies and the protection of data. In short, these agreements are used to make sure that a company’s rights are reasonably protected, even if they may be operating under a legal system that they don’t have a deep understanding of.
It is critical to mention that protecting power agreements only apply upon mutual agreement between all involved parties. Even if it is typically a useful tool for studies involving multiple nations, it is not something that can be simply imposed on a country where a study is taking place, even if it is being managed by a foreign company. Hence, negotiation is critical to ensure a satisfying agreement that will represent the best interests of both parties involved.
When planning and organizing toxicology studies, companies must bear in mind that the majority of the issues come from unclear protections, which can lead to confusion, lack of trust and even lawsuits. Having adequate legal protection and the right resources to defend against them is essential to ensure solid, long-term relationships between a drug developer and any other involved party.
For more information on international legal agreements, you can visit Wikipedia on International Law.