The life sciences industry operates in an increasingly evolving and complex regulatory landscape. From raising capital or addressing pricing pressures to harnessing emerging technologies and prioritising development efforts, your middle market life sciences business requires advisers who understand your complex issues.
From start-ups to established multinational businesses, we understand the challenges within the sector and work with clients worldwide to help them stay focused on key discoveries while not sacrificing business growth and profitability goals.
We work with life science companies across all segments of the industry—including biotech, pharmaceutical, medical device, contract manufacturing, clinical research organisations and others that support the life sciences industry.
From dealing with tax compliance and R&D to policies on patents and maximising opportunities for funding, we can help you with personalised advice designed to help your business stand out.
Our team brings you:
- in-depth experience and technical capabilities across all of our service lines, from audit and assurance to streamlining back office systems to expanding internationally;
- excellent relationships with funding networks such as venture capital trusts, private equity, banks and other debt providers, and experience in listings on public markets;
- a clear understanding of the key tax and business implications of structuring the ownership and exploitation of intellectual property;
- opportunities for accessing appropriate funding by locating suitable financial partners;
- expertise in overcoming funding constraints so that fast growth businesses can reach their full potential;
- a dedicated employer solutions team to help you design, implement and maintain the right strategy for your business, which is key in such a competitive environment where human capital is the chief asset;
- R&D specialists experienced in supporting life science businesses. This combined with our close working relationships with HMRC’s R&D specialist units means that we can work with you to make robust, supportable R&D tax relief claims; and
- outsourcing experts to help deliver your key business and strategic objectives. Watch our introduction to outsourcing video on how we can help start-ups right through to multi-national businesses.
Supporting your global needs
Having an adviser who not only understands your business but also understands the intricacies of doing business globally is important. RSM UK has established bilateral country desk teams, including the United States, that have the technical skills to help direct you toward your business goals, as well as knowledge of the regulatory and cultural nuances of the countries in which you operate.
Wherever you are in the world, you will receive the same seamless service and support with a dual perspective.
Contact our team today to discover how we can help your business.
1. Third-party risk management
2. Regulatory change
3. Growth and profitability
4. Harnessing technology and data
5. Fraud and compliance risk
Third-party risk management
Leveraging third parties is a key business growth strategy and is increasing in the life sciences sector as these partnerships help pharmaceutical, medical device and biotechnology companies complete important research and clinical trials as well as commercialise, manufacture and distribute products. Often, these relationships provide greater process efficiencies, operational effectiveness and cost savings by shifting non-core functions to more specialised third-party providers.
However, while there are many benefits to working with third parties, there are also risks. Failure to properly manage these third-party relationships can result in financial loss or expose an organisation to unwelcome regulatory or legal challenges.
Life sciences companies must understand the risk factors involved with these relationships, from initial planning to third-party termination, to proactively mitigate and manage them in a responsible manner.
Staying ahead of reform and regulations for life sciences businesses
In an evolving and competitive business environment, it’s more important than ever for life sciences businesses to remain diligent. Many of the policy reforms affecting how your business operates may open or close markets while also affect your supply chains and costs. Failure to comply could result in missed opportunities or expose your business to fines and penalties, enterprise disruptions and more.
From financial reporting frameworks and accounting compliance to tax considerations and protective efforts related to corruption, fraud and data breaches, it’s a never-ending endeavour to stay on top of the latest rules, regulations and best practices.
Growth and profitability
Insights and strategies to grow your life sciences business
Whether you require better controls, wish to advance your merger and acquisition readiness, or want to improve your overall information technology strategy and planning, we can help you move past your challenges and on to opportunity and growth.
A strong business growth plan considers a variety of factors, including shifting demographics, pricing pressures, capital and funding options, strategic mergers and acquisitions, innovation demands, and much more.
Growing life sciences companies can maximise valuation by creating new products and services to meet changing market needs, enhancing infrastructure and financial systems, outsourcing the right tasks and operations, and leveraging key tax credits and considerations.
Harnessing technology and data
Weighing your digital opportunities and risks
An organisation’s future success can depend on its ability to kickstart and embed digital change. However, harnessing technology and data can also introduce new risks to your business.
Having an effective digital strategy in place is integral to the growth of your life sciences company.
Effective systems management, data analytics and cyber security strategies can be helpful solutions to address your risks and improve functionality and outcomes. Successful life sciences businesses will be those companies that begin or continue to harness the power of data while reasonably mitigating the risk to the organisation.
Fraud and compliance risk
Navigating risk and regulatory compliance
Today’s business environment can be a precarious place. Financial and operational risks have increased and without adequate protection, your finances, reputation and critical data are vulnerable.
Given the global operations for many life sciences companies, and the frequent use of third parties, these risks are of a particular focus and concern. Having effective risk management policies and processes and General Data Protection Regulation compliance measures in place is essential.