NATURAL HEALTH PRODUCTS NEW ZEALAND SUMMIT 2018
WATCH: 'Ground-breaking' regulations set to transform Australian industry
Carl Gibson sat down with NutraIngredients-Asia for a video interview following his presentation at the Natural Health Products New Zealand summit.
He outlined how the rules contain a new higher-level health claim that sits between the current low-risk listed classification for complementary medicines, and the higher-level classification for pharmaceuticals.
To qualify for the new higher-level claims, products must be supported by rigorous scientific evidence, and tested by the Therapeutic Goods Administration (TGA) for efficacy.
Gibson added that under the new system, companies that invest in innovation and research would also enjoy a two-year period of market exclusivity for newly approved ingredients.
Watch the video to find out what other benefits the new rules will bring, and to hear Gibson's views on the current state of Aussie supplement exports.