Accounting and Financial Reporting in the Pharmaceutical Industry

Running Head: ACCOUNTING AND FINANCIAL REPORTING
1
[ACCOUNTINIG AND
FINANCIAL REPORTING]

ACCOUNTING AND FINANCIAL REPORTING 2
Table of Contents
Introduction................................................................................................................................3
Issues common to the industry...................................................................................................3
Moderate growth rate.............................................................................................................3
Technological impact on the industry....................................................................................3
Policy Reforms from health care sector.................................................................................3
Innovation and outlook...........................................................................................................3
Trends that have been identified................................................................................................3
Concerns and strategies..............................................................................................................4
Major competitors......................................................................................................................4
Emerging technologies related to the industry...........................................................................4
References..................................................................................................................................5

ACCOUNTING AND FINANCIAL REPORTING 3
Introduction
The pharmaceutical industry or also referred to as the medical industry is involved in
discovering, developing and producing and marketing the drugs. Generally the
pharmaceutical companies deal in brand medications or generic ones. The companies are
subjected to a wide range of rules and regulations which involve the patents, testing of the
medicines and how to market the drugs.
Issues common to the industry
There are certain factors which are very challenging to the industry which are as
follows
Moderate growth rate
According to a recent analysis conducted by Quintiles IMS it is expected from the
global companies all-round the word to accelerate by 4% to 6% at a compound annual growth
rate during the upcoming five years.
Technological impact on the industry
The development of the drug and its commercialisation is hindered by the
technological advancements and especially in the digital manner. The technology is so
advanced that it times the skill needs to be outsourced from the outside which includes the 3D
printing and the artificial intelligence.
Policy Reforms from health care sector
The United States healthcare is one of the major challenging issues. The future of the
current policies is under the review for the purpose of the replacement of Affordable Care
Act under the consideration of the congressional authority.