As the global economy wrestles with the implication of the impact of the health systems on GDP, there is a move a foot to harmonize regulatory expectations. In other words there is a “Regulatory Convergence” happening whereby the regulatory requirements across countries are slowly being harmonized. The most recent example is the effort that is being undertaken by the Chinese health agency. National Medical Products Administration (NMPA) (formerly the China Food and Drug Administration, or CFDA) was founded on the basis of the former State Food and Drug Administration (SFDA). In March 2013, the former regulatory body was rebranded and restructured as the China Food and Drug Administration, elevating it to a ministerial-level agency. This move marks China’s strategy to become a global supplier in trillion-dollar health care market. The rebranded NMPA replaces a large group of overlapping regulators with an entity similar to the Food and Drug Administration of the United States, streamlining regulation processes for food and drug safety, The National Medical Products Administration is directly under the State Council of the People's public of China, which is in charge of comprehensive supervision on the safety management of food, health food and cosmetics and is the competent authority of drug regulation in mainland China.

References

Citation

Citation: Robert Salcedo. “2020 Regulatory Convergence Pays off". Acta Scientific Medical Sciences 4.2 (2020): 143-145.

Copyright

Copyright: © 2020 Robert Salcedo. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.