Pharmaceutical

From research and development, to clinical testing, to market, pharmaceutical companies face a variety of risks. Marsh can help you identify strategies and solutions to mitigate these risks and reduce volatility.

As the pharmaceutical industry — including biopharma, specialty drugs, generics, animal health, and nutraceuticals — continues to evolve and change, the risks faced by these businesses are becoming increasingly complex and interconnected.

The full impact of the COVID-19 pandemic will take time to be realized. But the current environment has put a spotlight on a number of trends that can pose risks to pharmaceutical companies, including:

Challenges related to drug development, marketing, and pricing
Navigating breakthrough health discoveries and “fast track” approvals
The continuing growth of generics
A complex global regulatory environment
Supply chain disruptions
Data sensitivity and cybersecurity threats

As pharmaceutical companies continue their recovery process, it is more critical than ever to have a risk management strategy in place to address emerging trends and protect fundamental operations.

Marsh’s risk advisors have vast experience working with companies like yours and can help you design, develop, and implement risk management strategies tailored to your unique needs.

Cyber Risk

07/30/2021

Given the complexities and pervasiveness of cyber risk, organizations can benefit from experienced risk advice when managing their exposures. We can help you assess and quantify your cyber risk, prepare for and respond to cyberattacks, transfer your risk, and build lasting risk management and resilience.

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Life Sciences Industry Marine Cargo Insurance

08/24/2021

Providing valuable expertise and innovative solutions to organizations in the marine cargo, biotechnology, pharmaceutical, and medical devices industries.

Business Interruption & Supply Chain

07/30/2021

Business interruption resulting from natural disasters, fires, supply chain failures, and even cyberattacks can pose significant financial losses for companies operating in the global business environment. Our innovative insurance and risk management strategies can help you understand your exposures and build greater resilience.

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Product Recall

09/06/2022

Marsh Advisory provides solutions across the entire product lifecycle.

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FAQ

Pharmaceutical companies share much of the same risks as in other industries, from banking and finance to energy companies. For this reason, it can be helpful to look both inside and outside of the industry for risk management approaches including:

Quantify your risks: Big data and analytics can help you objectively determine which risks pose the biggest threat to your bottom line.
Determine your risk tolerance: Understanding your organization’s comfort level with risk can help you make more effective risk mitigation and transfer decisions.
Develop a risk mitigation strategy: Once you understand your risk profile, you can take steps to mitigate potential risks.
Have a crisis management plan: Even with the best risk resiliency measures, your company can still face threats. Knowing what to do when a crisis materializes helps you address immediate challenges and start the process of recovery.

Our team of industry specialists have insight into the risks faced by companies within and outside the pharmaceutical industry. We can help you identify your most pressing risks, quantify them, and develop a custom mitigation and risk transfer plan.

Pharmaceutical