National and international laws and regulations governing the pharmaceutical and life sciences sector get ever more complex and are regularly subject to change.
Existing business models and transactions are changing and will continue to do so. Government tax incentives and tax statutes continue to emerge and change, as do accounting standards.
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.
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: