Assuring programme delivery in Pharma
Having played a huge and critical role in the global response to the pandemic, the Pharmaceutical industry is now facing into the new challenges that are emerging. We are seeing prices rising at 10% p.a. and driving up the development cost of new drugs to well over the $2bn mark, at a time when consumers are less able to afford to pay more, yet have increasingly high expectations for fast consumable services. The landscape is further challenged by rising ‘beyond the pill’ options, technology solutions, customer expectations and loss of exclusivity across a wide range of products – all of which are eroding margin and income streams.
Pharmaceutical and Healthcare companies need to respond at pace. This is driving an increase in the number of transformation programmes alongside merger, acquisition and separation activities, either to acquire new capability or to build separate business models.
However, these multiple strands of change increase the opportunities for things to go wrong and early signals can be missed, particularly when the change is being delivered by blended, cross-regional teams, involving multiple third parties. One solution to this is to arrange an independent assurance review.