Recent developments within the pharmaceutical and life sciences industry mean companies are entering into more new, often very complex, collaborative deals, such as co-promotion & co-marketing agreements, licence agreements, strategic alliances and partnerships.
The challenge for pharmaceutical and life sciences companies will be to continuously monitor all these changes and assess their financial and accounting implications. The accounting issues they face vary depending on circumstances. The generally accepted accounting principles liable to apply will also have an impact on the most appropriate and relevant accounting solution.
How PwC can help you
At PwC, we know what it takes to meet the high standards of today’s regulatory reporting requirements in a changing political, economic and legal environment. The quality of our services to a great extent benefits from our in-depth knowledge of the pharmaceutical and life sciences sector. PwC offers a wide variety of services to help pharmaceutical, biotech, medical-device, generics and service-provider companies to develop answers to the latest, most-burning accounting issues. Our team can assist you in:
- Highlighting industry-specific factors that need to be considered, and providing opinions on the most pertinent accounting solutions under IFRS, US GAAP and BE GAAP
- Identifying GAAP differences
- Providing guidance in carrying out GAAP conversions
- Identifying the impact of changing accounting standards following, say, the IFRS and US GAAP convergence project
- Providing accounting solutions for pharma levy regulations;
- Structuring co-promotion, co-marketing, licensing and strategic alliance deals, including their accounting treatment under the relevant GAAP
- Analysing the carrying value of assets under the relevant GAAP
- Valuing intangible assets
- Licensing management services, including royalty audits.
Contact us
Partner, Platforms & Industries Leader, Consulting Lead, PwC Belgium
Tel: +32 476 44 53 92
