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Failing to Demonstrate Value of Innovation is Top Risk Facing Life Sciences Sector, According to Ernst & Young
Date:4/23/2009

ld strong relationships with Customs authorities in order to improve efficiencies and protect against counterfeiting.

6. Protecting and capturing the value of intellectual property: The industry can increase advocacy on behalf of patent reform.

7. Sustaining a culture of innovation: Companies are exploring alternatives to the fully integrated R&D model that most pharma companies are built on. Opportunities exist to invest more selectively in defined therapeutic categories, and to reinvest in the people and talent pipeline.

8. Global supply chain integrity: Companies can improve due diligence of third party suppliers, increase vigilance about regulations and standards in emerging markets, and employ more robust supply chain management and internal controls.

9. Enabling access: With increased pressure to broaden access to therapies, companies can proactively define and execute a comprehensive approach in emerging markets, exploring creative pricing approaches and local strategic partnerships.

10. Loss of reputation: It is currently vital to take steps to ensure effective risk management, choosing partners carefully, and maintaining high standards for product safety and data transparency.

About the Global Pharmaceutical Center

The Global Pharmaceutical Center is the focal point of Ernst & Young's pharmaceutical practice. It serves as the central hub of a network of senior professionals providing quality assurance, tax, transaction, risk management and business advisory services to pharmaceutical companies and others in the pharmaceutical value chain worldwide. The Ernst & Young Global Pharmaceutical Center fosters a collaborative environment where our seasoned professionals work together to provide clients with tailored services, thought leadership, forums and education to address t
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