NVUS 2018 Annual Report

The regulatory approval process outside the U.S. generally includes all the risks associated with obtaining FDA approval. In addition to regulatory approval, in many countries outside the U.S., it is required that the product be approved for reimbursement before the product can be approved for sale in that country. We or these third parties may not obtain approvals from regulatory authorities outside the U.S. on a timely basis, if at all. Approval by the EMA, MHRA, or FDA does not ensure approval by regulatory authorities in other countries or jurisdictions, and approval by one regulatory authority outside the U.S. does not ensure approval by regulatory authorities in other countries or jurisdictions or by the FDA. We may not be able to file for marketing approvals and may not receive necessary approvals to commercialize our products in any market. Any product candidate for which we obtain marketing approval will be subject to extensive post-marketing regulatory requirements and could be subject to post-marketing restrictions or withdrawal from the market, and we may be subject to penalties if we fail to comply with regulatory requirements or if we experience unanticipated problems with our products, when and if any of them are approved. Our product candidates and the activities associated with their development and commercialization, including their testing, manufacture, recordkeeping, labeling, storage, approval, advertising, promotion, sale and distribution, are subject to comprehensive regulation that are specific to those defined by regulatory authorities in the countries where the product is approved. In the U.S. and other countries that follow the International Conference on Harmonization (ICH), these requirements include submissions of safety and other post-marketing information and reports, registration and listing requirements, cGMP requirements relating to manufacturing, quality control, quality assurance and corresponding maintenance of records and documents, including periodic inspections by the FDA and other regulatory authorities, requirements regarding the distribution of samples to physicians and recordkeeping. The FDA, or other regulatory authorities, may also impose requirements for costly post-marketing studies or clinical trials and surveillance to monitor the safety or efficacy of the product. The FDA closely regulates the post-approval marketing and promotion of drugs to ensure drugs are marketed only for the approved indications and in accordance with the SURYLVLRQV RI WKH DSSURYHG ODEHOLQJ 7KH )'$ LPSRVHV VWULQJHQW UHVWULFWLRQV RQ PDQXIDFWXUHUV¶ FRPPXQLFDWLRQV UHJDUGLQJ use of their products and if we promote our products beyond their approved indications, we may be subject to enforcement action for off-label promotion. Violations of the Federal Food, Drug, and Cosmetic Act relating to the promotion of prescription drugs may lead to investigations alleging violations of federal and state healthcare fraud and abuse laws, as well as state consumer protection laws. In addition, later discovery of previously unknown adverse events or other problems with our products, manufacturers or manufacturing processes, or failure to comply with regulatory requirements, may yield various results, including: x restrictions on such products, manufacturers or manufacturing processes; x restrictions on the labeling or marketing of a product; x restrictions on product distribution or use; x requirements to conduct post-marketing studies or clinical trials; x warning or untitled letters; x withdrawal of the products from the market; x refusal to approve pending applications or supplements to approved applications that we submit; x recall of products; x fines, restitution or disgorgement of profits or revenues; x suspension or withdrawal of marketing approvals; x refusal to permit the import or export of our products; x product seizure; or x injunctions or the imposition of civil or criminal penalties. Non-compliance with EU requirements regarding safety monitoring or pharmacovigilance, and with requirements related to the development of products for the pediatric population, can also result in significant financial penalties. Similarly, failure to comply with the EU ¶V UHTXLUHPHQWV UHJDUGLQJ WKH SURWHFWLRQ RI SHUVRQDO LQIRUPDWLRQ FDQ DOVR OHDG WR VLJQL ficant penalties and sanctions.

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