The PharmaCert certificate is a certification program for drug manufacturers. PharmaCert acts as proof of quality for the medication. It brings the credibility of Canadian and US GMP standards to manufacturers in developing countries. Developing countries often struggle with quality perception in their local and export marketplaces. Some consumers perceive these medications as low quality with little or no efficacy and, at times, they may be considered unsafe. Some medications produced in developing countries are forced to price at significantly lower levels than international brands in order to compete.
A product with the PharmaCert certification assures the manufacturer, distributor, regulator and consumer that the medication adheres to high North American standards of quality, safety and effectiveness. This allows the manufacturer to create PharamaCert-certified product lines at higher price points while still using their existing manufacturing capabilities, as long as they meet the PharmaCert standards. The PharmaCert certification has the potential to deliver higher margins, increase sales and expanded markets. PharmaCert gives manufacturers significant marketing leverage in their local market and potential export markets. The globally recognized strength of US and Canadian-certified medications often reduces the complexities for manufacturers to export their PharmaCert products to other countries.
Dr. Mack Payravi, Pharm.D., MBA says,
“Many pharmaceutical manufacturers in developing countries have a limited market in their country of origin, and they rarely have the option of expanding and exporting the medications to other countries. In many cases, the exportation of medications is a significant factor for bringing the high value currency from other, more advanced countries to the country of origin. Having the higher value currency in the country’s treasury is a meaningful economic tool for any country. This would give a significant financial advantage to manufacturers.
As well, in many developing countries, government gives special privileges to manufacturers who do more exportation. They may receive tax incentives, government trade credits and subsidies, and many more advantages.”