Pharmaceutical companies currently face countless federal laws, regulations and industry guidelines governing sales and marketing, including the Pharmaceutical Research and Manufacturers of America (PhRMA) Code, the Office of Inspector General’s (OIG) Guidance to Pharmaceutical Manufacturers and FDA regulation. In addition, an increasing number of states require US pharmaceutical companies to report their sales and marketing expenses. Five states – California, Minnesota, Georgia, Vermont, Maine and West Virginia – and the District of Columbia already require some level of reporting. We anticipate that, over the next five years, the majority of states will require pharmaceutical companies to provide detailed sales, marketing and other functional categories of expenditure/activity information. Individual state requirements, such as which activities must be reported, how activities are defined and how companies must submit these reports, often differ. To address these rapidly moving requirements, many pharmaceutical companies are mounting large-scale manual efforts that are often inefficient, cost-intensive and complex.
PricewaterhouseCoopers is a long-standing market leader in providing governance, risk and compliance (GRC) advisory services, with an enhanced focus on designing and implementing cost-effective processes to address federal and state sales and marketing compliance requirements and related reporting. We understand the complexity and growing challenges that increased state-level reporting regulations present to pharmaceutical and life sciences companies and have extensive experience developing, implementing, managing and monitoring compliance processes, controls and data.
Our deep technology and data management experience will help you better leverage existing information to solve your state reporting and other compliance related challenges from disparate and vast data sources.