What is a DUNS number?

A DUNS number, which stands for "Data Universal Numbering System," is a unique nine-digit identifier for businesses. It is issued by Dun & Bradstreet (D&B), one of the world’s leading providers of business information and analytics. The DUNS number is a fundamental component in the world of business, especially for establishing creditworthiness and tracking financial and payment performance. It plays a crucial role in regulatory compliance, risk assessment, and business credibility, especially in the pharmaceutical industry where stringent regulations govern operations.

Why is a DUNS number required?

A DUNS number is often required when registering with regulatory authorities. For example, in the United States, the US FDA may request a DUNS number as part of the registration process for drug establishments or manufacturers. This number facilitates regulatory oversight by providing a standardized way to track and monitor companies involved in healthcare products and services.

Moreover, having a DUNS number enhances transparency and trustworthiness in the eyes of global regulatory , agencies, clients, and partners. It demonstrates that a company has undergone D&Bs validation process, which includes verifying business information such as legal entity status, financial stability, and operational history. This validation instils confidence in stakeholders regarding the reliability and integrity of the service provider.

For a risk management perspective, a DUNS number enables better assessment of business entities. Regulatory bodies and clients can use this identifier to conduct due diligence, evaluate compliance history, and assess the overall risk associated with engaging a particular service provider. This information is crucial in decision-making processes related to partnerships, contracts, and regulatory submissions.

How does a DUNS number support organizations on a global scale?

A DUNS number is integral when it comes to establishing global business connections. In an interconnected world, where regulatory requirements vary across regions, having a standardized identifier simplifies cross-border transactions and collaborations. It enables companies to navigate complex regulatory landscapes more efficiently and expand their presence in international markets.

For regulatory and pharmacovigilance service providers specifically, a DUNS number is essential for demonstrating credibility and expertise in a highly regulated industry. It signifies a commitment to compliance, quality, and professionalism, which are paramount in ensuring the safety and efficacy of healthcare products and services.