Three prominent in-house counsel foretell the risks and opportunities in the pharma, data privacy and e-commerce sectors
Pharma: evolving priorities
The year ahead will see pharma companies and their general counsel (GC) continue to grapple with the demands of the volatile, uncertain, complex and ambiguous (VUCA) business environment they find themselves in. The global marketplace that Indian pharma companies operate in today is far more challenging than it was a decade ago. Companies must navigate a complex maze of interconnected risks – political, macro-economic, technological, tax, financial, legal, regulatory – that run across political borders. A tweet can disrupt a strategy, an alliance between your customers can halve your margins, and regulatory changes can open or close entire markets.
In this VUCA world, an in-house counsel must anticipate, mitigate and live with all kinds of risk, and bring more than mere legal expertise to the table – one must also be a dealmaker, reformer, crisis manager and strategist.
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ESHA CHAKRAVARTY is general manager-legal at Datamatics Business Solutions.