In a recent bill proposed by two Congressmen, the American Made Medicine Act proposes a boost in domestic drug manufacturing and job creation in the pharmaceutical industry. The bill aims to address an over reliance on other countries in purchasing essential products like pharmaceuticals, medical devices, and personal protective equipment.
This means drugmakers are going to need some help.
Read on to learn about how the increased capacity and financial incentives to invest in the top-line equipment could pose a unique opportunity for US drug manufacturers to make the safest, most efficiently produced, and most profitable products in the industry.Ãnbsp;
Refocusing Efforts Toward US Drug ManufacturingÃnbsp;
The movement towards recalibrating the industry’s focus to US-made pharmaceutical products comes not a moment too soon.Ãnbsp;
One component of this bill is of particular importance: the Advanced Medical Manufacturing Equipment CreditÃ¢’¬’a 30% investment tax credit (phased out over a ten-year period) for “investments in advanced manufacturing equipment or machinery used to manufacture drugs, medical devices, or biological products in the US.”Ãnbsp;
Over the years, Anderson Dahlen has had a unique opportunity to work with leading drug makers in providing the most precision-built, custom pharmaceutical manufacturing equipment available in the market. And such a credit could be a real game-changer for US drug companies that aren’t able to operate without the precision-built equipment we specialize in.Ãnbsp;
The Burden for US Drug Makers and a Flawless Manufacturing ProcessÃnbsp;
Drugmakers can tell you a thing or two about compliance. It’s central to every step in the drug manufacturing process, from sourcing drug components to R&D, testing, and manufacturing. And in order to meet the extremely high standards of compliance for drug manufacturing, businesses have to go far back to the sourceÃ¢’¬’where their equipment is built.Ãnbsp;
Beyond proper maintenance and cleaning, the equipment for manufacturing pharmaceuticals is perhaps the singular element in the chain of production that drug makers have limited capability in controlling. ThatÃ¢’¬’¢s why, in order to factor out liability for broken or malfunctioning equipment, drug makers need to choose their partners carefully and work with manufacturers who have industry-leading transparency in their manufacturing process. ItÃ¢’¬’¢s the only way to ensure their GMPS and FATS meet the unique specifications of their industry.Ãnbsp;
But while compliance is critical to drug manufacturing, for the most part, it’s all behind the scenes. As a result, end-users may in fact know very little about the compliance process and the regulators who oversee the checks and approvals that keep drug manufacturing safe.Ãnbsp; Ãnbsp;
To be an industry leader in the pharmaceutical industry means building trust with the end-users. Nobody is aware of what it takes to keep the market’s trust like drug manufacturers. They could probably tell you that the first step to keeping the trust of consumers is not to break it in the first place.Ãnbsp;
Building partnerships with top equipment manufacturers is one of the most effective ways to avoid not just the broken trust of the consumer but accidents that can damage a brand or even invite liability.
Learn More About Anderson Dahlen’s Pharmaceutical EquipmentÃnbsp;
As a proud manufacturer of American-made equipment, we couldn’t be more excited at this renewed focus on bringing drug manufacturing back to American soil.Ãnbsp;
With these new incentives to invest in advanced manufacturing equipment, many domestic companies may finally be able to return production to the US. That means more jobs. Safer products. And better healthcare all around!Ãnbsp;
From safety, durability, and the precision of our equipment to our manufacturing process, nobody understands the needs of pharmaceutical companies like Anderson Dahlen. Want to learn more about our pharmaceutical equipment? Contact us today.