Demand from pharmaceutical and biotechnology companies for competition advice on the increase – Caiado Guerreiro
There is considerable demand from pharmaceutical and biotechnology companies for EU and competition law advice due to continuous changes to regulations, says Ricardo Rodrigues Lopes, partner at Caiado Guerreiro.
“Law firms have all been very busy on the advisory side, particularly advising companies in relation to international competition law, especially businesses covering multiple sectors, as more and more companies seek to comply with regulations governing the jurisdiction they operate in,” Rodrigues Lopes adds.
“The sectors that are dominant in this area in terms of companies seeking legal advice are pharmaceuticals and biotechnology, given there are frequently new laws being drawn up regarding these industries,” he says. In addition, there is significant demand from clients in the financial sector, according to Rodrigues Lopes. “We are expecting changes in electronic payment regulations, for example, and until now banks have been operating in a world of their own, whereas now they will be facing competition from the fintech sector.”
Rodrigues Lopes anticipates there will be a steady increase in demand for competition-related advice in the coming years, particularly in relation to matters at EU level. He adds that clients working in multiple jurisdictions will be most affected, and that competition-related disputes are likely to increase. Rodrigues Lopes says law firms will have to offer better services and advice, especially in relation to financial services regulations. “I would say that competition-related work will continue to mount up over the coming years as competition increases,” he says. “The EU’s competition laws are likely to strengthen in the coming years, and the issues that are most likely to produce more work are those relating to companies involved in international operations, and the subsequent litigation.”