Avantha Business Solutions
Ameliorating Compliance in Pharma

The pharmaceutical industry operates in one of the most regulated and dynamic environments where ensuring high-quality of drugs is the key goal of every organization. Today, due to increasing misuse of prescribed drugs, incorrect branding, insufficient safety data reporting and improper social media practices, regulatory authorities, enforcement agencies keep a close eye on the gamut on the entire activity of pharmaceutical entities. Thus, for quality assurance of manufacturing processes, packaging, and distribution, companies need to adhere to various guidelines and compliance metrics set by the regulators. Avantha Business Solutions helps pharma organizations meet compliance obligations, reduce costs, and improve the bottom line with a suite of controlled substance compliance, and supply chain productivity and efficiency solutions that span the entire value chain. “We thrive to provide organizations with the knowledge and assistance required for regulatory compliance, supply chain, efficiency, and electronic data management challenges,” says Gautam Thapar, Chairman and CEO, Avantha Business Solutions.

Avantha works with several pharmacies, drug manufacturers and distributors, irrespective of pharmacy environment they operate in. Here the company offers specialized solutions to conduct organization wide controlled substance compliance audits and reviews for U.S. Drug Enforcement Administration (DEA) and state authority audits. Avantha also recognizes the unique business model of drug companies and delivers consulting service where it offers tailor made reviews and assessments of organizational CS compliance and diversion control programs. By doing so the firm helps clients in mitigating regulatory compliance risks and protects shareholder value.

Avantha also offers pharma companies a complete suite of supply chain and pharma efficiency solutions. These solutions enable the companies to accelerate inventory management, reduce pilferage, identify and correct inventory errors by simplifying drug dispense management and expense analysis. The company’s high-end Pharma Efficiency Solutions that includes inventory optimization and cycle counting mitigates client requirements for business process transformation and consultative solutions.

We thrive to provide organizations with the knowledge and assistance required for regulatory compliance, supply chain, efficiency, and electronic data management challenges

For an instance, a Fortune 100 company was struggling with trapped inventory, lack of efficient operating procedures for moving inventory through supply chain, lost sales due to stock out issues and inaccurate safety stocks. Avantha evaluated client’s drug dispense history, identified source and target location for inventory movement, which ultimately decreased their cash flow outlets, more effective inventory movement, and observed high pilferage losses.

In addition, Avantha offers solutions for cost analysis and formulary compliance which analyses the spending cost and recommend efficient ways to reduce expenses, and ensures the sites save a copy of every generic formulary respectively. Apart from compliance services Avantha also helps in managing the vendors for keeping consistent and easy approach to work with the company. The firm assists vendors in initiating request for proposal (RFP), request for quotation (RFQ) activities, shipment tracking, forecasting, scheduling, issuing and maintaining supplier performance records.

Similar to the diversity of solutions, Avantha’s coinage and naming too plays a highly significant role in setting their values. Gautam Thapar established Avantha on the erstwhile of Thapar Group, one of the India's leading business groups. He amalgamated the essence of western and eastern cultures while naming the company. In Sanskrit the word ‘avni’ means the earth and ‘tha’ comes from sthapna, which means to establish. While in French, avancer is ‘to advance’, which signifies forward movement and growth and 'tha' imbibes the Thapar legacy. “The name ‘Avantha’, therefore, represents the strong foundation that the Group provides to the individual companies for advancement, growth and diversification,” says Thapar.

For the coming years, Avantha will continue to develop their solutions for helping pharmaceutical entities remain compliant with federal and regulatory guidelines.