As the threat of a global recession looms in 2023, the pharmaceutical industry is beginning to feel the pressure, with several pharma and biotech companies conducting layoffs and reducing their workforces. Among them is the Ferring Research Institute in San Diego, which has announced plans to lay off all 89 of its employees in May.…
How pharma can optimize for right-the-first-time drug manufacturing and sustainability
The pharmaceutical industry is gradually going green. More pharma companies are embracing sustainability metrics and striving to reduce corporate emissions and their footprint. More than 25% of major pharma and biopharma companies are committed to reaching net-zero carbon emissions by 2050. Many are also committed to ensuring equal access to medicine for the 2 billion people worldwide that are currently…
Big pharma resists international corporate tax proposal
Pharma companies are resisting a tentative agreement between 130 countries to create a minimum corporate tax of 15%. The plan intends to combat tax inversion and other forms of tax avoidance. Some U.S. industries, including Big Tech, have backed the plan given its potential to simplify accounting — even if it increases their tax rate.…