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.

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.

US medical technology report 2008: pulse of the industry

While the credit crunch has depressed public equity financing, venture capital and deal activity remained strong in the US medical technology industry over the past 18 months. Our inaugural report highlights the state of the US medtech industry by evaluating the industry’s performance across several measures – financial performance, financing, mergers and acquisitions, and public policy trends – and classifying companies into product and disease segments.

Accounting for business combinations: implications of Statement 141(R) for life sciences companies

The life sciences industry is witnessing a remarkable uptick in M&A activity.Upcoming changes in accounting rules could have a significant impact on the way in which transactions are structured as well as an acquirer’s future earnings, financial metrics and compliance with debt covenants.This publication discusses (pdf, 215kb) the implications of the new rules, which apply to transactions with closing dates on or after 1 January 2009.

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.

Accounting for product returns in the life sciences industry

Life sciences companies often provide rights of return to distributors and must address multiple issues to account for these rights. Among other things, companies must determine if they can reasonably estimate future returns in order to recognize revenue at the time of sale to the distributor. This publication addresses (pdf, 146kb) the accounting and reporting considerations related to return rights.