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Instant GMP Compliance for Dietary Supplements - What is the cost of Compliance?
The FDA calculated the cost of Good Manufacturing Practices (GMP) whenever they first drafted the Dietary Supplement Health and exipure diet Education Act (DSHEA). Dietary supplement GMP regulations, located in the Federal Register, cover everything estimated costs, concerning compliance, that a business would incur based on small business size. The FDA estimated that altogether nutritional supplement makers would invest 56,000 hours as an one time burden of creation of written methods. Additionally, 930,000 hours was estimated as the sum total for all business enterprises to carry out adequate record keeping. The FDA then used this data to calculate the economic impact for different sized companies.
Cost per Establishment by Size
Small Establishments (Less than 20 employees with annual revenue below $1M)
Small Establishments
Set up Costs = $26,000
Annual Costs = $46,000
Medium Establishments (twenty - 500 employees with annual earnings of $5M - $10M)
Moderate Establishments
Set up Costs = $20,000
Yearly Costs = $184,000
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