PETER ROST: PHARMA MARKETING EXPERT WITNESS. AWP, MEDICAL DEVICE EXPERT.: Ostrich CEOs: Only 24 percent of Pharma CEOs said that rising expectations will affect how they do business.

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Ostrich CEOs: Only 24 percent of Pharma CEOs said that rising expectations will affect how they do business.

"What came out of this survey is that the life sciences industry is one that's in the middle of a big transition, but what's interesting is that CEOs are saying that the journey has just begun," said Michael E. Svinte, vice president of global pharmaceutical and life sciences at IBM. "They are so bombarded with change that they are struggling to keep up with it."

One odd fact of note is that while 62 percent of life science CEOs said they view rising expectations of corporate responsibility as a positive trend, only 24 percent of respondents said that those rising expectations will affect how they do business.

In the study, IBM questions whether this is because they already have programs in place to be more responsible with the environment and helping fight disease in impoverished nations, or whether they just don't have the strategies in place.

Source: PharmaExec


Anonymous Anonymous said...

CEO - Pfizer cannot do anything. Problems all around with KPMG allowing SEC and audit illegal practices in the company. KPMG refused to sign off 2007 accounts. The whole organisation is becoming a an inverse diamond. All managers but no staff except the slave labor of the Indians and Chinese.

The company is near impoding and is already in the same situation as ENRON and AA( KMPG instead)

Anonymous Anonymous said...

What all happened with KPMG and the SEC? This is the first I've heard about this, but I know that KPMG had been in big trouble with the IRS in 2003 or so for rampant fraudulent tax shelter programs the company had been selling to clients which then left those clients on the hook for millions of dollars (PBS's "Frontline" did a report on it a few years back).

The Frontline aired just a few months before Pfizer made the bizarre decision and announcement at its shareholders meeting that KPMG was now going to be handling the accounting and auditing for the company in, I think it was April of 2005?

I thought at the time that Pfizer was adding more disaster to what it already had to confront, but haven't known much since of what all KPMG has been up to-- just that I don't think they're very trustworthy, etc. Maybe a perfect fit for Pfizer, then, but two untrustworthy entities in partnership with each other seem destined to destroy each other when struggling for their own survival.


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