The UK is a leader in the global pharmaceutical industry and the business of improving health can bring significant rewards to organisations operating in this sector.
At the same time, pharmaceutical businesses face significant challenges including government action to curb rising healthcare bills as a result of pressure on public sector budgets and complex regulatory regimes.
At Haslers, we can offer expert advice to pharmaceutical businesses to support them in both their day-to-day operations and at a strategic level.
For example, the growth of pharmaceutical businesses is heavily reliant on ongoing research into new products and improving existing products. With the cost of bringing new medicines to market rising, pharmaceutical businesses need to minimise the time and cost needed to bring a product from an idea through to final regulatory approval and delivery to the patient.
Pharmaceutical investment in research and development (R&D) represents 25 per cent of all expenditure on R&D in UK businesses and a key area where we can assist is to maximise the value of research and development (R&D) tax credits and to improve operational and financial efficiency within businesses to release funds for research.
Areas where we can assist pharmaceutical businesses include:
- tax compliance and planning, including maximising the value of R&D tax credits and the Patent Box regime
- maximising cost efficiency while avoiding negative impacts on risk management associated with regulatory compliance and statutory reporting
- raising finance
- joint ventures
- international trade and trade finance
- VAT compliance and planning, including cross-border issues.