Compliance in the Used Equipment Marketplace
Pharmaceutical Compliance Monitor - December 22, 2014
As companies have become more comfortable selling their surplus and buyers have become more accepting of purchasing used equipment, the secondary market has grown steadily over time. Mergers and acquisitions (M&A), downsizing and lab closure, and mainstream adoption have successfully driven a steady increase in the amount of pharmaceutical and biotech inventory coming into the secondary marketplace. Established secondary-market vendors have also enabled more direct access for sellers to connect with buyers on a global scale, contributing to this growing trend. While the secondary market is a valuable way to maximize return for surplus assets, it can also be fraught with risk and organizations must establish proper protocol when it comes to remarketing surplus equipment. With challenges for surplus equipment including data privacy, health and safety standards, FDA regulations, and export controls; having a trusted partner in place to identify and mitigate compliance issues in the “reverse supply chain” is critical.
(Article by Gardner Dudley, Liquidity Services)