Pharma & Healthcare

What we do

With their deep industry knowledge, our experts provide accounting, audit, tax, advisory and legal services for a large number of clients – from multinational corporations and key regional market players to domestic SMEs.

In addition to strengthening their customer focus, cost reduction, flexibility of the organisational structure and regulatory compliance have also become key objectives both globally and in the domestic market.

References

Bayer
Béres
Richter
TECA
Glaxo Smith Kline

Our Services

Audit services and accounting advisory services

Audit services in compliance with statutory requirements or group instructions;
Accounting due diligence;
Performing other assurance procedures;
Performing agreed-upon procedures;
Advice regarding the Sarbanes-Oxley regulation;
Advice regarding Hungarian accounting regulations / IFRS / US GAAP (on a regular or as needed basis, either verbally or in writing (preparing advisory letters));
Advice on handling special accounting cases, e.g. accounting advisory services in connection with transformations;
Reviewing and rationalising accounting processes;
Treasury risk management and accounting advisory services;
Providing trainings and courses on accounting (in which certified public accountant, auditor and ACCA credit points may be earned) at PwC Academy.

Legal services

Advice related to pharmaceutical promotional activities, compliance review for marketing schemes, representation in supervisory reviews (agreements with health care specialists, transfer of assets, donations and product samples, gifts and entertainment, funding attendance at conferences, advertising activities to patients, online promotion).
Measures against unlawful or potentially unlawful activities of competitors: advice and representation in procedures concerning competition law matters, trade mark infringements or unlawful counterfeits.
Legal advice on therapy loyalty and adherence programmes, preparing and reviewing related contracts (with special regard to the limitations of clinical studies, data management, promotion and liability).
Preparing and reviewing clinical study and observation agreements, related consultancy services, representing pharmaceutical companies in study-related procedures.
Legal advice on the terms and conditions of employing medical representatives, liability issues, preparing and reviewing contracts.
Providing training and advice on “dawn raids” that may be carried out in proceedings instituted by the National Institute for Quality and Organizational Development in Healthcare and Medicines, National Institute of Pharmacy (“GYEMSZI-OGYI”) and the Hungarian Competition Authority;
Advice on the distribution, authority inspections and advertising of medical devices, therapeutic appliances and dietary supplements.
Legal services related to authorisation

Tax advisory services

Tax planning of various benefits (product samples, gifts, services to doctors/hospitals) in accordance with the applicable regulations;
Advice on the tax treatment of pharmacy sales promotions and other discounts
Advice on the tariff classification of medicines, medicinal products and materials, negotiations with authorities;
Issues related to the environmental product fee on packaging and waste management;
Advice on tax incentives and state aid related to R&D activities carried out in Hungary;
Advice during tax audits carried out by the Tax Authority;
comprehensive transfer pricing planning and compliance services to ensure that the internal policies of our clients comply with the Hungarian regulations introduced in 2013;
Developing cafeteria systems, employee and management compensation schemes;
Checking and preparing tax returns (pharma taxes, corporate income tax, VAT);
Preparing personal income tax returns for Hungarian employees on secondment abroad and foreign nationals working in Hungary

Advisory services

Reviewing operational efficiency and related advice;
Reviewing financial efficiency and related advice;
Corporate risk management advisory services;
Reviewing IT efficiency and related advice;
Reviewing IT security and related advice;
Internal audit services;
Business valuation and M&A services;
Comprehensive advisory services related to state aid;
Comprehensive financial due diligence services.

Publications

Pharma 2020: The vision: Which path will you take?

But Pharma 2020: The Vision - Which Path Will You Take? indicates that the current pharmaceutical industry business model is both economically unsustainable and operationally incapable of acting quickly enough to produce the types of innovative treatments demanded by global markets. In order to make the most of these future growth opportunities, the industry must fundamentally change the way it operates.

Emerging mHealth: Paths for growth

A global research study about the opportunities and challenges of mobile health

From surviving to thriving: cancer’s next challenge

Health matters. It matters to each of us as individuals and to society – it connects us all like no other. It lies at the heart of our economic, political, social and environmental prosperity and is one of the largest industries in the world.

Online proposal request

Contact us

Éva Barsi

Partner, PwC Hungary