Willis has launched a new offering for firms in the life sciences sector, covering biotechnology, pharmaceuticals, chemicals and medical devices.

The new life sciences practice has been established to respond to the specific risks to this sector of globalisation, supply chain liability and litigious operating environments, as well as cash flow issues as a result of falling volumes, and such emerging risks as healthcare reform and intellectual property theft.

“In the past, life sciences companies did everything in-house from research and development through to commercialisation,” explained Tom Teixeira, the practice's new leader. “The expense and complexity of such an integrated model is no longer sustainable in the current environment. Life science companies are moving towards a more collective approach by transferring parts of the process to other smaller specialist firms.

“This development exposes pharmaceutical and chemical companies to a whole new sphere of risk and our goal is to get ahead of the market and provide an integrated service proposition coupled with innovative products that will respond to the needs of the new life sciences business model.”

Teixeira started his career in the Ministry of Defence in project risk management. He left the public sector to help set up a business unit in IT risk management tools and professional services at technology provider Strategic Thought Group (STG). Following the company’s successful float in 2005 on the AIM market, Teixeira joined Rolls-Royce Group as head of enterprise risk management. In 2008, he re-joined STG as vice-president of their enterprise risk solutions division, with responsibility for providing risk advisory services to senior management at FTSE100 and Fortune 500 companies aimed at business performance improvement, with a focus on the Life Sciences, Mining and Aerospace and Defence sectors.

Based in London, Teixeira will report to Toby Wemyss, managing director, GMI and will focus on major accounts outside the US.

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