Industry consolidation and supply quality issues top compliance challenges for global life sciences companies

A recent survey of top life sciences organizations found that compliance issues and increased industry consolidation (via mergers and acquisitions) are the top challenges faced by companies in today's market. The survey, conducted by Sparta Systems, pointed to the need to achieve compliance with worldwide regulatory standards as a major issue for organizations trying to maintain their competitive edge in global life sciences industries.

More than half of respondents to the survey, which was conducted among professionals in the pharmaceutical, biotechnology, medical device and blood/tissue industries, revealed that varying supply quality standards and differing mandates across countries or regions are the greatest obstacles to managing quality and compliance. Moreover, increasingly global supply chains and greater industry consolidation are causing companies to re-evaluate their current practices and adapt to the changing industry landscape. Three-quarters of those surveyed reported that they work with more than four global suppliers, with growing numbers of suppliers posing potentially significant threats to supply quality when not managed properly.

Key findings of the survey also included: