Pharmaceuticals life sciences pwcs global network of pharmaceutical biotech and medtech experts works with you to define and deliver effective solutions to the complex challenges affecting your business in all areas from innovation to regulation and patient engagement. The indian life sciences sector is undergoing major changes driven by changing business and consumer needs that are closely mirrored by regulatory changes the fast pace of growth in the sector has been accompanied by instances of regulatory non compliance discovered in the course of regulatory body inspections impacting the reputation and business prospects of the companies involved. The pharmaceutical industry in india was valued at us 33 billion in 2017 and generic drugs account for 20 per cent of global exports in terms of volume making the country the largest provider of generic medicines globally and expected to expand even further in coming years according to the department of pharmaceuticals ministry of chemicals . July 26 2008 pharma and life sciences tax news vol 7 no 10 irs identifies factors for determining deductibility of settlement payments few tax issues are more fact intensive than determining the tax consequences to the payor of payments made under a settlement agreement with a governmental body when the agreement is silent as to the nature of the payments. Commenting on the findings hitesh sharma india life sciences leader and tax partner ey said there are several myths among pharmaceutical companies in india around digitization unavailability of data challenges to generating roi people resistance to digitization and unfavourable regulations to name a few in reality the forerunners
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