ANALYSIS: Pharma Firms Still Trust Board Oversight as Risks Grow

The pharmaceutical industry is operating within a marketplace of heightened risk, according to a Bloomberg Law analysis of Form 10-K filings. But pharma companies aren’t changing their risk governance approach, clearly favoring board oversight over other recommended means.

A Bloomberg Law EDGAR Advanced Search of Form 10-K, Item 1A Risk Factor filings submitted by companies categorized with a Standard Industrial Classification (SIC) of pharmaceutical preparations shows that the number of corporate risks filings—and the amount of detail in them—that these pharma companies have disclosed over the past decade has more than doubled.

From 2014 to 2018, risk factor filings grew ...