The business of pharmaceutical and medical devices is paradoxical. Science holds out the promise of breakthroughs through the likes of gene therapy, genome mapping, stem cell research, bioengineering and nanotechnology. Aging populations are fueling demand. Yet product pipelines are sluggish, pricing and margins are under attack, internet marketing is altering the distribution landscape and regulatory, liability and competitive risks are growing.
To be successful, pharmaceutical, medical device and biotech companies are looking at things in new ways; doing things differently. Acquisitions, alliances and licensing are supplementing, and in some cases replacing, in-house discovery and development. Outsourcing, from product manufacture to clinical trials, is helping to improve performance, accelerate time to market and control costs.
Getting these and other innovative approaches right, while still managing the basic business is the key. You have to be diligent about transactions. Careful about commercial agreements. Thorough in your R&D. You constantly have to be alert to changing liabilities, regulations and trade laws. Vigorous about protecting intellectual property. Strategic in your tax planning.
At Baker & McKenzie, we have been working with producers, distributors, researchers and regulators in the pharmaceutical and medical products industry worldwide for more than half a century. More than 250 lawyers in our pharmaceutical and healthcare practice concentrate their energies on the issues and opportunities of this dynamic and challenging market.
We bring to your legal needs and business opportunities in-depth knowledge and tested experience across a broad range of issues critical to your success. Ours is a holistic approach focused on addressing legal matters within the broader context of your business strategies and operations, in local markets and across borders.