Pharmaceutical and healthcare
Pharmaceutical and healthcare companies are among the most analysed and evaluated organisations in business today. In recent years, profitability has been lagging as many companies have been unable to sustain the robust growth that was once a hallmark of the industry. Thinning pipelines, growing generic competition, and skyrocketing operating and marketing costs are among some of the industry’s main concerns.
Pressure is also mounting on the healthcare industry which has been characterised by rising costs, global competition induced by medical tourism and telemedicine, a growing imbalance of supply and demand as well as increasing customer demands in the recent decade. Demand is driving the system and flipping the traditional paradigm in which many health systems attempted to control costs by controlling supply.
Pharmaceutical and healthcare industry challenges:
- Attracting and retaining a skilled workforce
- Controlling operating costs
- Effective use of information technology
- Improving processes such as supply chain
- Enabling integrated quality healthcare
- Generic competition
- Intellectual Property protection and data privacy
- Managing regulatory compliance
- Realising tangible value from strategic alliances, joint ventures (JVs) and partnering arrangements
- Successfully developing innovative drugs and enhancing research & development productivity
- Delivering superior customer service
- Effectively managing patient demand and payer systems
How PwC can help you
Our global network of pharmaceutical and healthcare industry professionals provide assurance, tax and business advisory services that are grounded in an unmatched understanding of the industry and the dynamics that drive it. We have made a deep commitment to understanding the forces that are impacting these sectors and developing and delivering solutions that help our clients’ achieve their financial, operational and strategic objectives. On every project, we use our unparalleled network of resources to provide powerful strategies that help you succeed in a competitive and changing marketplace.