What does a non waiver agreement have to do with pharmaceutical toxicology consulting? In the article being promoted, TigerTox applies the term ‘non waiver agreement’ in regard to pharmaceutical research projects. The article on ‘demystifying non-waiver agreements’ demystifies the sense of a non waiver agreement. A non waiver agreement is used and is important because without it, there can be confusion, misunderstandings or inaccurate expectations. As you can see, a non waiver agreement is so important that you would not commence work without first getting one. The same is true for pharmaceutical toxicology consulting. The only time you would not want to get one is when the companies you are dealing with have such a strong working relationship with one another (that you are merely an outside contractor) that they decide that the cost of such an agreement is not worth the time and money. It is of utmost importance to pharmaceutical toxicology consulting companies like TigerTox (like most other consulting firms) to have non waiver agreements in place because the information and reports they compile and provide may be relied upon by other corporations (think drug companies partnering up). (For example: how far along is the drug entering clinical trials?) A non waiver agreement keeps all parties in agreement as to what is being discovered and the possible dangers or liabilities they may face.
In a typical situation that you as a client might be involved in, you think you’ve found the right pharmaceutical company to help you develop a new drug. You are working on a non waiver agreement, but until that non waiver agreement is executed, there is a real chance that the two companies involved may have different understandings of the stage of the drug’s development. After all, every second (and every dollar) counts at this stage in your business plan. With a non waiver agreement, there is no need to worry about misunderstandings regarding where you are. With a non waiver agreement, you can rest assured that you and the consulting group that you are working with have the same goals in mind. With a non waiver agreement keeping you on the same page, there is a level of trust and clarity established. Both parties understand their roles and responsibilities in the relationship from the very beginning of the project, which will likely cut down on wasted time.
Without a non waiver agreement, there are a number of possible pitfalls. You could find yourself having to re-do a set of research efforts or losing the business of the company that you were pursuing for a partnership because the damage was too great. And if you fail to have a non waiver agreement in place, you may not be able to get your business back on track. Since TigerTox is a new consultancy group specializing in pharmaceutical toxicology, it is difficult to provide examples from our experience that would correspond with a non waiver agreement. However, we can tell you this – when it comes to pharmaceutical research and drug development, timing is essential, and without a non waiver agreement, you risk obtaining false information that could delay or even stop your drug from entering clinical trials. When it comes to the legal aspect of a non waiver agreement, keep in mind that the party that breaches the agreement has no legal recourse. So, it is in everyone’s best interest (including yours, our client) to ensure that the following is clear and unambiguous – you want as much information documented before the two parties agree and sign on the dotted line.