Consolidation among the major players is expected globally as mergers, acquisitions and strategic alliances continue across the pharmaceutical and biotechnology sectors, driven by escalating R&D costs, blockbuster drug patent expirations and a need to bolster R&D pipelines.
With such high R&D costs, patent and intellectual property protection will remain an ongoing issue for the industry.
Protection of patents is one of the most important determinants of the long-term prosperity of research-orientated pharmaceutical companies.
In Australia, an ageing population and government funding constraints are driving growth in generic medicines. Reforms to the Pharmaceutical Benefits Scheme (PBS) signals that the Australian Government is increasingly looking to generic medicines to curb the increasing cost of healthcare expenditure.
KPMG’s Pharmaceutical industry practice advises clients with critical business and industry issues, including:
- enterprise risk management
- research and development tax concessions and grants
- sales force and marketing compliance
- intellectual property and contract governance
- transfer pricing
- cross-border financing and tax planning
- mergers, acquisitions and asset disposal
- market entry and expansion
- fraud risk management
- supply chain optimisation.
KPMG’s Pharmaceuticals industry advisers bring high-level technical capabilities and deep industry experience to every engagement. They are supported by KPMG’s global resources, collaborative knowledge sharing systems and industry insight programs.