As pharma companies use more third parties, risk management must maintain compliance, quality, and reputation without slowing growth.
In this article, originally published Feb. 4, 2025, in Life Science Leader, Crowe specialists identify what’s involved in building effective third-party risk management programs.
Managing third-party risk is one of the most arduous challenges facing pharmaceutical companies, and regulatory requirements are just one piece of this puzzle.
Pharmaceutical organizations are continually evolving – rapidly. Often, this evolution involves an increased use of third parties. As changes occur, companies’ third-party risk management (TPRM) programs must continue to adapt to ensure compliance, maintain quality, and ultimately help protect the companies’ reputation. The challenge is doing so effectively without compromising growth or exposing organizations to unnecessary risk.
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As pharmaceutical companies use more third parties, risk management must maintain compliance, quality, and reputation without slowing growth.
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As pharmaceutical companies use more third parties, risk management must maintain compliance, quality, and reputation without slowing growth.
Crowe specialists detail key areas of risk that internal audit teams in life sciences companies should consider in the evolving landscape of 2025.
Healthcare and life sciences rely on tech for critical services. Outdated systems create risks. Read how paying off tech debt improves patient care.