Commitment and experience for changing times

More than any other technology, biotechnology has the potential to alter our lives in a positive way. And by achieving this potential, today’s biotech companies are delivering new levels of health, prosperity and sustainability — across the world. But with increasing regulation, growing pricing pressures and competition for acquisitions, you face unprecedented challenges.

Ernst & Young has been a pioneering presence in the biotechnology industry we were the first professional services firm to build a practice dedicated to serving your industry. We’ve stayed committed to your business with our leading reports and our knowledgeable professionals. So it’s not surprising that we serve more biotech companies than any other professional services firm — by a wide margin.

The Ernst & Young Global Biotechnology Center reflects our continuing commitment to biotechnology. It develops our thought leadership and brings you clear insights to address your assurance, tax, transaction and advisory needs. And it networks and educates our biotech professionals from around the world, so they are informed about the emerging issues impacting your business.

The bottom line? You receive a consistent, high-quality, seamless service — wherever you operate — and the help you need to meet your goals.

Beyond Borders: global biotechnology report 2008

The Ernst & Young 22nd annual report on the state of the biotechnology industry features critical insights about emerging trends. Biotech matures, medicine becomes more targeted, globalization accelerates and pharma restructures. How will these trends impact the industry? Key industry players and advisors set out to answer this question and more in a core group of articles.

Financial statement disclosures

Anyone preparing financial statements for biotech and related entities may find this compilation of disclosures and footnotes useful. Taken from the filings of US biotech companies, “Disclosures in biotech” (pdf, 658 kb), from Ernst & Young US, covers specific issues such as revenue recognition and sales allowances, pre-launch inventory, in-process research and development, and research and collaboration arrangements.

Strategic business risk — biotechnology 2008

What strategic challenges (pdf, 496kb) are likely to affect biotech companies in 2008? We analyze 10 of the most critical risks, including pricing pressures and access, product development and clinical trials, raising capital and strategic alliances. We also look at risks currently ‘below the radar’ that may be topping risk tables in the years to come.

Interpreting the emerging health policy agenda: webcast archive

The US Congressional agenda and its impact on biotechnology and pharmaceutical companies was the subject of the Ernst & Young Thought Center webcast “A prescription for change” on 6 March 2007. If you missed the live webcast, visit our US site to watch the archived program in video format, where panelists discuss the hot issues around the emerging health policy agenda.

Accounting convergence: implications for life sciences companies

US regulators seem to be moving in the direction of accounting convergence and the adoption of globally recognized accounting standards. In this publication, you will gain insights into the key issues and differences between the International Financial Reporting Standards (IFRS) proposed for adoption, and US GAAP (pdf, 1.7mb). While there are numerous differences, we focus on those most relevant to the pharmaceutical, biotechnology and medical device industries.