WATCH: Swisse on policy — why regulatory equivalence, not harmonisation, may be the best approach

By Gary Scattergood

- Last updated on GMT

Industry needs to better strive for regulatory equivalence across Asia, and indeed globally, while also educating policymakers that the fast-paced industry can no longer be governed by rules that are 20 or 30 years old.

Those were two of the conclusions delivered in a keynote address by Justin Howden, Swisse Wellness' head of government affairs, at our inaugural Healthy Ageing APAC Summit in Singapore.

We caught up with Howden after his presentation to drill down into some of the major regulatory issues affecting the industry in the region.

In our video, he gives his tips on how industry and policymakers can better work together, and identifies where gaps remain when it comes to the regulations to which manufacturers must adhere.

"It might not always be harmonisation that we need. It could be equivalence, where we can get cross recognition,"​ he says.

He also shares his views on Australia's new supplement rules that are currently coming into force, underlines Swisse's plans for making new, higher-level health claims in the country, and argues that there is need for sunset clauses to some of the rules.

"The timeframes in which we are now operating have been compressed,"​ he says. "A 25-year window for regulations no longer works. Some of them might not even be relevant in five or 10 years' time."

Howden also provides his assessment of the future of China's cross border e-commerce rules, while also discussing the changes the company has undergone since it was acquired by Chinese firm Biostime, now known as Health & Happiness, for $1.7bn in 2015.

Watch the video for more.

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