keep Therapeutic Goods Amendment (Registered Over the Counter Medicines) Regulation 2015
Amends the Therapeutic Goods Regulations 1990 to modify registration requirements for over-the-counter (OTC) medicines, including updating listing criteria, labeling requirements, and compliance obligations for sponsors of registered OTC medicines.
Without federal oversight of OTC medicine registration, Australians could be exposed to unsafe, ineffective, or adulterated therapeutic products. While regulatory duplication is a valid concern, therapeutic goods present genuine information asymmetries where consumers cannot easily assess safety and efficacy. Market failure in pharmaceuticals can cause irreversible harm, making some form of registration and quality assurance necessary. A delete verdict would require demonstrating that state-based regulation or market mechanisms alone could adequately protect public health — which is not self-evident in this sector.