Limits to global control and local autonomy for pharma executives

One of the most pressing issues facing the pharmaceutical industry at present is the interplay of worldwide and local dynamics impacting the industry's ability to manage global risk, comments professional services group Ernst & Young, reporting the results of its fourth annual Progressions drug industry report, which includes the results of a survey of sector executives conducted by the Economist Intelligence Unit.

"The survey results and perspectives discussed by the thought leaders in Progressions shows the complexity that executives face in building a global pharmaceutical operation and remaining compliant on a local level," said Carolyn Buck Luce, leader of E&Y's global pharmaceutical practice. "The pace of globalization requires that pharma leaders imbed global compliance policies and processes into the design and implementation of their strategic growth initiatives. The decisions these leaders make about risk are as important as the decisions they make about product or market," she added.

Risk of regulatory non-compliance fears