RGP Study Finds Life Sciences M&A Deals Require Stronger Project Execution
19 Octubre 2023 - 9:00AM
Business Wire
RGP (Nasdaq: RGP), a global consulting firm, today released a
new report showing that strategic initiatives in the life sciences
industry are failing far too often, particularly when it comes to
M&A activity, necessitating a new way of approaching them.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231019073056/en/
RGP surveyed executives from the pharmaceutical, biotechnology,
and medical device industries on the effectiveness of their
strategic initiatives. These large, complex and costly initiatives
can span a broad section of functions, including clinical trial
operations, predictive modeling, clinical trials, supply chain
issues, and leveraging generative AI to analyze data. Nearly 60% of
respondents indicated that at least a quarter of these projects
fell short of their goals, and nearly 30% said that most of their
initiatives aimed at enhancing company performance have
underperformed.
Within life sciences industries, these project challenges often
revolve around M&A activity.
“Despite the volume of life sciences M&A today, few
organizations consider the litany of complex tasks required to
close and integrate deals as a full-blown program of projects,”
said Marcia Brown-Rayford, Global Life Sciences Research &
Development Leader at RGP. “M&A transactions are projects that
require masterful execution to not only close these deals but to
also integrate the asset, carve out people, process and technology,
manage risk, and meet regulatory requirements. A lack of skilled
project leadership is the main reason why many post-M&A
integrations fail, with legacy companies remaining siloed,
hampering return on investment.”
Most respondents agreed on the root cause of project failures,
with 76% attributing them to a lack of skilled project management
leaders. This growing competency gap within the industry has been
exacerbated by ongoing talent shortages and the grab for qualified
project managers only exacerbate.
“An alarming number of critical projects like M&A
transactions are failing today and will continue to fail without
effective project management,” said Brown-Rayford. “These complex
transactions will remain common as large pharmaceutical companies
continue seeking to fill pipeline gaps by investing in small to
midsize companies.”
The workforce composition of companies in life sciences
industries continues to evolve as well. Nearly 60% of North
American respondents said teams composed of individuals from
multiple organizations are important to successful project
execution. The study also found that the proportion of external
team members on transformation teams rose from 40% in 2020 to 46%
in 2022 and is projected to reach 53% in 2024.
The research findings are based on RGP’s fall 2022 survey of 404
large companies with $1 billion or more in revenue, including 99
life sciences executives. Read the full report, “Why
Mission-Critical Life Sciences Projects Are Failing—and How to Fix
Them” by visiting
https://rgp.com/now/research/life-sciences/achieving-strategic-project-goals/.
About RGP
Recently named among Forbes’ World’s Best Management Consulting
Firms for 2023, RGP is a global consulting firm focused on project
execution services that power clients’ operational needs and change
initiatives utilizing on-demand, expert and diverse talent. As a
next-generation human capital partner for our clients, we
specialize in co-delivery of enterprise initiatives typically
precipitated by business transformation, strategic transactions or
regulatory change. Our engagements are designed to leverage human
connection and collaboration to deliver practical solutions and
more impactful results that power our clients’, consultants’ and
partners’ success.
A disruptor within the professional services industry since our
founding in 1996, today the Company embraces our highly
differentiated agile delivery model. We attract top-caliber
professionals with in-demand skill sets who seek a workplace
environment characterized by choice and control, collaboration and
human connection. The trends in today’s marketplace favor
flexibility and agility as businesses confront transformation
pressures, severe skilled labor shortages and speed-to-market
challenges. As talent preferences continue to shift in the
direction of flexibility, employers competing in today’s business
environment must rethink the way work gets done and consider
implementing new, more agile workforce strategies. Our client
engagement and talent delivery model offers speed and agility,
strongly positioning us to help our clients transform their
businesses and workplaces, especially at a time where high-quality
talent is scarce and reliance on a flexible workforce to execute
transformational projects is increasingly imperative.
With approximately 3,800 professionals collectively engaged with
over 1,900 clients around the world from 41 physical practice
offices and multiple virtual offices, we are their partner in
delivering on the “now of work.” Headquartered in Irvine,
California, RGP is proud to have served 88% of the Fortune 100. The
Company is listed on the Nasdaq Global Select Market, the
exchange’s highest tier by listing standards. To learn more about
RGP, visit: http://www.rgp.com. (RGP-F)
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231019073056/en/
RGP Media Contact: Pat Burek
Financial Profiles 201.655.3406 pburek@finprofiles.com
Resources Connection (NASDAQ:RGP)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Resources Connection (NASDAQ:RGP)
Gráfica de Acción Histórica
De May 2023 a May 2024