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Willis Group Holdings has established a new business unit within Willis Global Markets International (GMI) for the insurance of companies involved in life sciences. Willis has appointed Tom Teixeira as the practice leader, and will focus on major accounts outside the US.

Life sciences industries including biotechnology, pharmaceuticals, chemicals and medical devices are not only faced with the risks of globalization, supply chain liability and litigious operating environments, but they are also exposed to cash flow issues as a result of falling volumes, while trying to mitigate against emerging risks like healthcare reform and intellectual property theft.

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