Accounting Update for the Life Sciences Industry
We’re pleased to present our annual life sciences industry publication. In the early 1960s, the life sciences industry diversified as a result of extensive, new regulatory challenges. Since then, the industry has continued to change dramatically, successfully navigating the tough times through innovation and strategic redirection. This past year has been no different: U.S. health care reform and global initiatives for redefining the health care cost model have irrevocably changed the industry once again.
In addition to the financial impact of global health care reform and the tremendous branded patent cliff, other important recent developments in the life sciences industry include:
- Acquisitions to expand the development of treatments and the accompanying diagnostics, leading to more targeted treatment and better demonstrated value.
- Transactions by generic companies to move into biologics and branded pharmaceuticals.
- Acquisitions of generic manufacturers by branded pharmaceutical companies.
- Targeted deals and collaborations focusing on specific therapies and geographies.
In this changing landscape, it is more important than ever to monitor and anticipate such events, which can affect transparency and other aspects of accounting and financial reporting.