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US GAAP - Issues and Solutions for Pharmaceutical and Life Sciences

This publication highlights industry-specific factors to be considered and provides guidance on the most pertinent accounting solutions for the pharmaceutical, life sciences and medical device industry. Because each company deals with accounting issues in ways that should reflect the facts and circumstances of its particular situation, we cannot address every nuance in this publication. For example, the structure in licensing, manufacturing, and research and development arrangements lead to variations in contracts, corporate structures, and accounting requirements. Therefore, the solutions we present are meant to provide a framework for determining the appropriate accounting answer for general situations; however, individual facts and circumstances may give rise to a different answer. The contents of this publication are based on guidance that is effective or could be early adopted as of January 1, 2019. Therefore, whenever considering the solutions contained in the publication in future periods, it is important to keep in mind that the accounting guidance may be superseded as new guidance and interpretations emerge.

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This publication has been prepared for general informational purposes, and does not constitute professional advice on facts and circumstances specific to any person or entity. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication. The information contained in this publication was not intended or written to be used, and cannot be used, for purposes of avoiding penalties or sanctions imposed by any government or other regulatory body. PricewaterhouseCoopers LLP, its members, employees, and agents shall not be responsible for any loss sustained by any person or entity that relies on the information contained in this publication. Certain aspects of this publication may be superseded as new guidance or interpretations emerge. Financial statement preparers and other users of this publication are therefore cautioned to stay abreast of and carefully evaluate subsequent authoritative and interpretative guidance.

The FASB Accounting Standards Codification® material is copyrighted by the Financial Accounting Foundation, 401 Merritt 7, Norwalk, CT 06856, and is reproduced with permission.


PwC clients that have questions about this US GAAP - Issues and Solutions for Pharmaceutical and Life Sciences Guide should contact their engagement partners. Engagement teams that have questions should reach out to one of the contacts below.

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Laura Robinette

Global Engagement Partner, Health Industries Trust Solutions Leader, PwC US

Dusty Stallings

Partner, National Quality Organization, PwC US

Adam Harfosh

Director, National Quality Organization, PwC US

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