The pharmaceutical and life sciences industry is dedicated to improving quality of life by developing innovative therapies and medicines that promise longer, healthier and more active lives.
In the interests of patient safety, this industry is heavily regulated. Compliance, validated quality assurance and
traceability are therefore key mandates.
This sector also faces rising environmental pressures. In addition, a competitive advantage often hinges on speed, which means that pharmaceutical companies are under pressure to bring their innovations to market as quickly as possible.
In general, however, price pressures are squeezing the number of new pharmaceutical products that are being brought to market. This is exasperated by the cost strain that generic drugs are exerting on many firms as brand-name drug patents expire.