Valuation In Life Sciences

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Valuation in Life Sciences

Author : Boris Bogdan,Ralph Villiger
Publisher : Springer Science & Business Media
Page : 378 pages
File Size : 50,6 Mb
Release : 2010-04-19
Category : Business & Economics
ISBN : 9783642108204

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Valuation in Life Sciences by Boris Bogdan,Ralph Villiger Pdf

Valuation is a hot topic among life sciences professionals. There is no clear understanding on how to use the different valuation approaches and how to determine input parameters. Some do not value at all, arguing that it is not possible to get realistic and objective numbers out of it. Some claim it to be an art. In the following chapters we will provide the user with a concise val- tion manual, providing transparency and practical insight for all dealing with valuation in life sciences: project and portfolio managers, licensing executives, business developers, technology transfer managers, entrep- neurs, investors, and analysts. The purpose of the book is to explain how to apply discounted cash flow and real options valuation to life sciences p- jects, i.e. to license contracts, patents, and firms. We explain the fun- mentals and the pitfalls with case studies so that the reader is capable of performing the valuations on his own and repeat the theory in the exercises and case studies. The book is structured in five parts: In the first part, the introduction, we discuss the role of the players in the life sciences industry and their p- ticular interests. We describe why valuation is important to them, where they need it, and the current problems to it. The second part deals with the input parameters required for valuation in life sciences, i.e. success rates, costs, peak sales, and timelines.

Valuation in Life Sciences

Author : Boris Bogdan,Ralph Villiger
Publisher : Springer Science & Business Media
Page : 334 pages
File Size : 52,5 Mb
Release : 2008-03-29
Category : Business & Economics
ISBN : 3540782486

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Valuation in Life Sciences by Boris Bogdan,Ralph Villiger Pdf

This is the first complete guide to valuation in life sciences for industry professionals, investors, and academics. Boris Bogdan and Ralph Villiger introduce the characteristics of drug and medical device development, explain how to translate these into the valuation, and provide valuable industry data. Special emphasis is put on the practicability of the proposed methods by including many hands-on examples, without compromising on realistic results.

Valuation in Life Sciences

Author : Boris Bogdan,Ralph Villiger
Publisher : Springer Science & Business Media
Page : 249 pages
File Size : 48,5 Mb
Release : 2007-03-23
Category : Business & Economics
ISBN : 9783540455677

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Valuation in Life Sciences by Boris Bogdan,Ralph Villiger Pdf

This book is the first complete guide to valuation in life sciences for industry professionals, investors, and academics. It introduces the characteristics of drug and medical device development, explains how to translate these into the valuation, and provides valuable industry data. Special emphasis is put on the practicability of the proposed methods by including many hands-on examples, without compromising on realistic results.

Biotechnology Valuation

Author : Karl Keegan
Publisher : John Wiley & Sons
Page : 216 pages
File Size : 50,9 Mb
Release : 2009-01-15
Category : Business & Economics
ISBN : 9780470741344

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Biotechnology Valuation by Karl Keegan Pdf

The first book to provide a simple and practical means of valuing biotech companies The book begins with a short history of the biotechnology industry; this is important as although it is about 30 years old, the first company went public only in 1996, so it is possible to plot the course of investment waves and dips It examines the European industry and its evolvement, and draws parallels between the similarities and differences between that and the US Looks at the various companies which make up the biotech industry (therapeutic; life sciences; and the medical technology company) and gives tools for the investor to properly evaluate them Praise for Biotechnology Valuation "Keegan states that the valuation of Biotech companies is as much an art as a science. This brief but comprehensive review of the skills and knowledge required, not of just the financial market and sentiment, but also of the technical attributes of a company and the drug development and regulatory hurdles that must be overcome, highlights the importance of the breadth of understanding required. Biotech investing is not for the timid, but it can bring substantial returns. Keegan's book, punctuated with his personal experience and opinions, is a good place to start." —Chris Blackwell, Chief Executive, Vectura Group plc "A user-friendly, yet thorough discussion of a notoriously difficult topic. Dr Keegan's book is a fine resource for both business types and academicians." —Steve Winokur, Managing Director, CanaccordAdams "A highly readable and comprehensive explanation of the technical and commercial parameters that influence biotechnology companies at all stages of development, providing clear context for selection from the toolkit of valuation methodologies the author recommends to assess company and product performance, or ascribe value." —Dr L.M. Allan, Director, Bioscience Enterprise Programme, University of Cambridge "A fabulous approach to a difficult topic." —Deirdre Y. Gillespie, MD, President & CEO, La Jolla Pharmaceutical Company

Market-Valuation Methods in Life and Pension Insurance

Author : Thomas Møller,Mogens Steffensen
Publisher : Cambridge University Press
Page : 263 pages
File Size : 50,6 Mb
Release : 2007-01-18
Category : Business & Economics
ISBN : 9781139462976

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Market-Valuation Methods in Life and Pension Insurance by Thomas Møller,Mogens Steffensen Pdf

In classical life insurance mathematics the obligations of the insurance company towards the policy holders were calculated on artificial conservative assumptions on mortality and interest rates. However, this approach is being superseded by developments in international accounting and solvency standards coupled with other advances enabling a market-based valuation of risk, i.e., its price if traded in a free market. The book describes these approaches, and is the first to explain them in conjunction with more traditional methods. The various chapters address specific aspects of market-based valuation. The exposition integrates methods and results from financial and insurance mathematics, and is based on the entries in a life insurance company's market accounting scheme. The book will be of great interest and use to students and practitioners who need an introduction to this area, and who seek a practical yet sound guide to life insurance accounting and product development.

Contingent Valuation

Author : J.A. Hausman
Publisher : Elsevier
Page : 516 pages
File Size : 40,7 Mb
Release : 2012-12-02
Category : Business & Economics
ISBN : 9780444597700

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Contingent Valuation by J.A. Hausman Pdf

The papers in this volume present a quite critical assessment of contingent valuation (CV). CV is a survey method that attempts to estimate individual values for economic goods by asking people hypothetical questions about their willingness to pay for such goods. In economics, CV has previously been studied almost solely by economists specializing in environmental economics. This book, however, reports research which is mainly from economists with specialities in economic theory, econometrics, and public finance, rather than from the more narrowly focused research of environmental economists. In addition, the research of specialists in psychology, market research, and litigation is included.

Innovation, Commercialization, and Start-Ups in Life Sciences

Author : James F. Jordan
Publisher : CRC Press
Page : 215 pages
File Size : 45,7 Mb
Release : 2021-09-27
Category : Business & Economics
ISBN : 9781000453645

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Innovation, Commercialization, and Start-Ups in Life Sciences by James F. Jordan Pdf

Innovation is a translation of a new method, idea, or product into reality and profit. It is a process of connected steps that accumulates into a brand reputation required for success. Unlike Fortune 500 companies, whose projects are self-funded, a start-up must simultaneously have a value proposition that attracts a customer (for revenue), investors (for capital), and acquirers (for a liquidity event or IPO). A high percentage of start-ups fail before attaining positive cashflow, due to a variety of reasons that are detailed in this book. Avoiding the pitfalls and wrong turns are the goals of this book. Innovation, Commercialization, and Start-Ups in Life Sciences details the methodologies necessary to create a successful life science start-up from initiation to exit. Written by an expert who has worked with more nearly 500 life science start-ups, this book discusses specific processes and investor milestones that must be navigated to align customer, funder, and acquirer needs. Successful commercialization requires attention to multiple constituents, such as investors, regulators, and customers. Investors require liquidity for their return, which is achieved through selling their stock in a public or private sale. The reader will gain an appreciation for the necessary data, partnerships, and skills needed to create a competitive and sustainable company. The author discusses such specific issues as customer problems, demonstrating sales access, and ensuring intellectual property is impervious to competitive advancement. This book is intended to be suitable for entrepreneurs, venture capitalists, and investors in both business and academic settings. These organizations have specific departments, such as R&D, operations, business development, legal, regulatory, and marketing, that would also benefit from this book. FEATURES Focuses specifically on life science start-ups Examines how to determine a company valuation and future "fundable milestones" Explores how to align regulatory and clinical strategies Discusses intellectual property derived from a university or individual through formation to exit. Reviews how start‐ups must simultaneously meet the needs of multiple constituencies at once: investors, regulators, customers and exit candidates James F. Jordan is an author, consultant, and speaker. He is a Distinguished Service Professor of Healthcare & Biotechnology Management, a former Fortune 100 executive, and a managing director of a venture fund. Access the Support Material: https://healthcaredata.center/ Cover design by Sarah Mailhott.

Business Development for the Biotechnology and Pharmaceutical Industry

Author : Martin Austin
Publisher : CRC Press
Page : 202 pages
File Size : 45,6 Mb
Release : 2016-04-08
Category : Business & Economics
ISBN : 9781317170594

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Business Development for the Biotechnology and Pharmaceutical Industry by Martin Austin Pdf

Business Development in the biotechnology and pharmaceutical industries accounts for over $5 billion in licensing deal value per year and much more than that in the value of mergers and acquisitions. Transactions range from licences to patented academic research, to product developments as licences, joint ventures and acquisition of intellectual property rights, and on to collaborations in development and marketing, locally or across the globe. Asset sales, mergers and corporate takeovers are also a part of the business development remit. The scope of the job can be immense, spanning the life-cycle of products from the earliest levels of research to the disposal of residual marketing rights, involving legal regulatory manufacturing, clinical development, sales and marketing and financial aspects. The knowledge and skills required of practitioners must be similarly broad, yet the availability of information for developing a career in business development is sparse. Martin Austin's highly practical guide spans the complete process and is based on his 30 years of experience in the industry and the well-established training programme that he has developed and delivers to pharmaceutical executives from across the world.

Technology Valuation Solutions

Author : F. Peter Boer
Publisher : John Wiley & Sons
Page : 230 pages
File Size : 50,9 Mb
Release : 2004-08-30
Category : Business & Economics
ISBN : 0471654671

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Technology Valuation Solutions by F. Peter Boer Pdf

A better way to value the profitability and risk of R&D projects New technology and R&D initiatives affect companies in both the service and manufacturing sector. It's estimated that half a trillion dollars is spent worldwide each year on such efforts. Technology Valuation Solutions + website offers a methodology along with illustrative cases for valuing the profitability and risk of R&D projects. A companion to Boer's earlier work, The Valuation of Technology (978-0-471-31638-1), this book provides additional material that will help readers assess a wide variety of projects and business scenarios. In addition to the in-depth case studies, this book includes a website featuring valuation templates that readers can customize for their own individual needs.

Valuing Pharmaceutical Companies

Author : Karen Beynon,Andrew Porter
Publisher : Woodhead Publishing
Page : 188 pages
File Size : 52,7 Mb
Release : 2000-06-19
Category : Business & Economics
ISBN : 1855734583

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Valuing Pharmaceutical Companies by Karen Beynon,Andrew Porter Pdf

The pharmaceutical sector offers some of the most exciting financial and business opportunities today. This essential and practical guide gives you all the tools you need to assess such opportunities. The second edition of the respected Pharmaceutical Equities, it has been thoroughly revised and updated to reflect the changes, especially in life sciences, since the first edition. The book is international in outlook, and explains the rules of the game not just for wise investing, but also for understanding how this uniquely complex and highly regulated business works. The authors explain: HOW to evaluate the technology and research and development, as well as the sales potential of ensuing products WHAT key issues will affect and influence companies in the next few years HOW to balance potential high returns on breakthrough products against accompanying risks The book begins with a look at the global pharmaceutical industry, from its history to the structure of present day companies. The second part explores how to analyse and value pharmaceutical and biotechnology companies. The final part deals with trading itself and looks at share price movement and the main equity markets throughout the world. Both practical and comprehensive, this handbook will be essential reading for investors, analysers and corporate planners - and is the ONLY book which will show you how to actually value pharmaceutical companies.

Sources of Value

Author : Simon Woolley
Publisher : Cambridge University Press
Page : 0 pages
File Size : 48,9 Mb
Release : 2009-05-14
Category : Business & Economics
ISBN : 9780521519076

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Sources of Value by Simon Woolley Pdf

An experienced senior practitioner shares the secrets of both the science and the art of financial decision making. The quality of financial decision making explains why some companies succeed whilst others fail. Sources of Value provides an original toolkit that emphasises both technical skills and strategic awareness.

Market-Consistent Actuarial Valuation

Author : Mario V. Wüthrich,Hans Bühlmann,Hansjörg Furrer
Publisher : Springer Science & Business Media
Page : 157 pages
File Size : 44,9 Mb
Release : 2010-09-02
Category : Mathematics
ISBN : 9783642148521

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Market-Consistent Actuarial Valuation by Mario V. Wüthrich,Hans Bühlmann,Hansjörg Furrer Pdf

It is a challenging task to read the balance sheet of an insurance company. This derives from the fact that different positions are often measured by different yardsticks. Assets, for example, are mostly valued at market prices whereas liabilities are often measured by established actuarial methods. However, there is a general agreement that the balance sheet of an insurance company should be measured in a consistent way. Market-Consistent Actuarial Valuation presents powerful methods to measure liabilities and assets in a consistent way. The mathematical framework that leads to market-consistent values for insurance liabilities is explained in detail by the authors. Topics covered are stochastic discounting with deflators, valuation portfolio in life and non-life insurance, probability distortions, asset and liability management, financial risks, insurance technical risks, and solvency.

Valuation Methods and Shareholder Value Creation

Author : Pablo Fernandez
Publisher : Elsevier
Page : 661 pages
File Size : 42,7 Mb
Release : 2002-09-11
Category : Business & Economics
ISBN : 9780080520377

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Valuation Methods and Shareholder Value Creation by Pablo Fernandez Pdf

Valuation Methods and Shareholder Value Creation provides a comprehensive examination of valuation tools and guidance for analyzing and valuing a business. It covers the basics of valuation methods and shareholder value creation in addition to rigorous approaches to discounted cash flow valuation and real options for valuing a company. It highlights quantitative analyses of firm value; emphasizes qualitative management assessments; and integrates data from international companies. By examining eight different methods of discounted cash flow valuation and discussing the pros and cons of each method, the book offers thorough, accessible coverage of corporate valuation. The book provides well-structured guidance for practitioners and MBA students with a background in finance. Highlights quantitative analyses of firm value Emphasizes qualitative management assessments Integrates data from international companies

Environmental Value Transfer: Issues and Methods

Author : Ståle Navrud,Richard Ready
Publisher : Springer Science & Business Media
Page : 292 pages
File Size : 47,7 Mb
Release : 2007-05-11
Category : Business & Economics
ISBN : 9781402054051

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Environmental Value Transfer: Issues and Methods by Ståle Navrud,Richard Ready Pdf

This volume offers a snapshot of the research that is ongoing in the area of value transfer. It provides relevant input for increasing the quality of cost-benefit analyses of projects with environmental and health impacts. The volume includes papers by some of the most influential authors in the area and covers the latest developments in the field.

Biotechnology Valuation & Investing

Author : Jason Hsu,Dimitrios Iliopoulos
Publisher : Independently Published
Page : 166 pages
File Size : 45,7 Mb
Release : 2019-03-16
Category : Business & Economics
ISBN : 1790407486

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Biotechnology Valuation & Investing by Jason Hsu,Dimitrios Iliopoulos Pdf

The selection of biotech stocks for investment is more difficult compared with the selection of other stocks and industries that possess historical data, since biotechnology is a recently new science. In the first edition of this book, we described the crucial parameters for the valuation of an early stage biotech company without a drug in the market. In this edition, we analyze novel financial models that can value stocks of biotech companies with products in the market or products under development (in pre-clinical and clinical studies). All of these parameters should be helpful to potential new investors when creating a stock portfolio that includes highly promising biotech companies. Our strategy of selecting highly promising stocks based on all parameters described in this book and of performing a basic financial modeling analysis with DFC and/or real options valuation models has proven very successful, as this strategy provides returns higher than 100% in most cases. In the first edition of this book, based on our strategy, we suggested that Juno Therapeutics and Kite Pharma were "hot" stocks. At that time, Kite's stock was $50.19, while Juno's stock was $54.21. Since then, Kite's stock reached $179.79, with the company acquired by Gilead for $11.9 billion, while Juno's stock reached $86.96, with the company acquired by Celgene for $9 billion. Furthermore, Moderna Therapeutics, a private company that we valued at $5.5 billion in 2016 based on our real options financial model, today has a $7.5 billion valuation. This newly revised and expanded version was written to help investors in the selection of biotech stocks based on different scientific and financial criteria.