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Press Release

Deloitte Publishes Eighth Annual Accounting and Financial Reporting Update to Help Life Sciences Companies Navigate Latest Challenges

Posted on: 20 Mar 17

PR Newswire

NEW YORK, March 20, 2017

NEW YORK, March 20, 2017 /PRNewswire/ --


Deloitte's Eighth Annual "Life Sciences: Accounting and Financial Reporting Update - Including Interpretive Guidance" publication


Chris Cooper, partner, U.S. audit leader, life sciences and health care, Deloitte & Touche LLP

Jeff Ellis, partner, life sciences industry professional practice director, Deloitte & Touche LLP

Dennis Howell, partner, professional practice groupand life sciences deputy industry professional practice director, Deloitte & Touche LLP


Available immediately



Life sciences companies operate in a world of uncertainty. Issues related to cost and pricing pressures, clinical and operational innovation, customer and consumer engagement, and regulatory compliance have existed for decades.

In addition, new and evolving technology advancements — more sophisticated electronic medical records, wearable health care devices, next-generation sequencing, breakthroughs in genomics, immunotherapy, and gene therapy and use of real-world evidence and data analytics — have primed the life sciences sector for disruption.

As life sciences companies confront these uncertainties, their finance professionals will be faced with a wave of financial reporting changes — including those related to revenue recognition, leases, the definition of a business, and non-GAAP measures. Applying these changes will significantly impact reporting in an industry where mergers and acquisitions are common and companies enter into complex collaboration and licensing arrangements to develop, commercialize and ultimately market their drugs and devices.

Deloitte's eighth annual accounting and financial reporting update for the life sciences industry publication helps bring to life these significant reporting changes, providing finance professionals with a unique perspective on the transparent and timely implementation of the changes.


About Deloitte
Deloitte provides industry-leading audit, consulting, tax and advisory services to many of the world's most admired brands, including 80 percent of the Fortune 500 and more than 6,000 private and middle market companies. Our people work across more than 20 industry sectors to deliver measurable and lasting results that help reinforce public trust in our capital markets, inspire clients to make their most challenging business decisions with confidence, and help lead the way toward a stronger economy and a healthy society.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see to learn more about our global network of member firms.


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SOURCE Deloitte

PR Newswire

Last updated on: 20/03/2017

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