Carving out.
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A CASE STUDY
Pharmaceutical company establishes stand-alone operation in the US.
OUR CLIENT
Our client is a pharmaceutical company that is branching out from its parent company during a recent carve out to focus on Research & Development for its groundbreaking medicine.
THE CHALLENGE
The company was supported by a Transitional Services Agreement (TSA) during the carve out and aimed to establish its own US operations as a standalone entity at the beginning of 2022. Unsure how to navigate this, the client called upon Amesto Global for assistance.
“From the start, they’ve been collaborative, engaged, and flexible – and they conduct their work with high integrity and passion.”
– CEO & Founder, US Pharmaceutical Company
OUR SOLUTION
Amesto Global is delivering the following solution:
- Assistance with transition services as the TSA comes to an end, set up opening balances in ERP system from TSA provider
- Set up new ERP system, accounting operations, and supplemental accounting platforms and process workflows
- Processing the day-to-day accounting on the client’s ERP system
- Month-end closings which included all necessary GAAP adjustments
- Preparation of a regular monthly financial reporting pack including an analysis of the financial performances (balance sheet, profit-and-loss and cash flow statement), budgets and forecasts, as well as “CFO” commentary on variances
- Preparation of monthly board package with commentary for CEO presentation
- Assist with monthly cash budget set by CEO and provide analysis and updates to stay with expected cash burn for the month
- Assist with the coordination of tax return requests for R&D credits and year-end tax compliance
- Complete coordination of services through a single point of contact
WHAT OUR CLIENT SAYS
Overall, how has your experience been working with Amesto Global?
Our overall experience has been very positive. As a recently formed, small start-up company, finding business partners we could trust and fit into our culture was incredibly important to us. The Amesto team fit right in. They are great people that do great work.
WHAT DO YOU VALUE MOST ABOUT WORKING WITH AMESTO GLOBAL?
From the start, they’ve been collaborative, engaged, and flexible – and they conduct their work with high integrity and passion.
How has Amesto Global simplified your business?
We are a company focused on developing therapies for a specific rare disease. It is important for us to be able to focus on patients, caregivers, and health care professionals. Amesto’s strong support gives us confidence that all of our financial responsibilities and requirements are in good hands, which allows us to spend more time on all our key research and development plans moving forward.
– CEO & Founder, US Pharmaceutical Company