KPMG report: Transfer pricing considerations in the age of precision medicine
A KPMG report concerning transfer pricing considerations in the age of precision medicine
A KPMG report concerning transfer pricing considerations in the age of precision medicine
Precision medicine is fundamentally transforming the healthcare and life sciences industry, and becoming increasingly important to academic medical centers, diagnostics and biopharma companies, laboratories, healthcare providers, payers, and data providers. Medicine is moving from a ‘‘one-size-fits-all’’ mentality to an approach that diagnoses and treats disease tailored to an individual’s genes, environment, and lifestyle. The importance of precision medicine is moving beyond the vanguard of oncology to other disease areas such as neurology and autoimmune diseases.
Chimeric antigen receptor T-cell (CAR T) therapy, a type of cell and gene therapy, represents one of the most exciting and high-profile areas of precision medicine as it has had curative outcomes for patients in some cases. CAR T products are currently marketed and are being investigated in clinical trials for many diseases when patients have no other treatment options. Many big pharma companies have made significant investments into their CAR T capabilities in recent years—from outright mergers and acquisitions (M&As) in order to access technologies and platforms, to large capital investments in manufacturing facilities.
Read an October 2022 report* [PDF 531 KB] prepared KPMG LLP that discusses the disruption caused by CAR T to standard business models in the life sciences industry and its implications for transfer pricing.
*This article originally appeared in Tax Management International Journal (7 October 2022) and is provided with permission.
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