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Valuation in Life Sciences

A Practical Guide

  • Book
  • © 2007

Overview

Authors:
  1. Boris Bogdan

    1. Avance, Basel GmbH, Switzerland

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    You can also search for this author in PubMed   Google Scholar

  2. Ralph Villiger

    1. Avance, Basel GmbH, Switzerland

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    You can also search for this author in PubMed   Google Scholar

  • First complete guide to valuation in life sciences (pharma, biotech, medtech)

  • Step-by-step explanation of how to practice valuation of projects and contracts

  • With relevant data and many real-life examples and exercises

  • Includes supplementary material: sn.pub/extras

  • 2959 Accesses

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Table of contents (5 chapters)

  1. Front Matter

    Pages I-XI
    Download chapter PDF

  2. Introduction

    Pages 1-8

  3. Fundamentals in Life Sciences

    Pages 9-20

  4. Basics of Valuation

    Pages 21-63

  5. Valuation in Life Sciences

    Pages 65-213

  6. Exercises

    Pages 215-239

  7. Back Matter

    Pages 241-249
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Keywords

About this book

Capital, whether it originates from venture, public equity, private, or g- ernment sources, continues to be biotech’s source of sustenance. In fact, access to financing can make or break a company, regardless of whether it has Nobel Prize winning science or a top-flight business school mana- ment team. In order to attract capital there has to be a “value proposition” that is sufficiently engaging and well constructed that will not only capture the imagination of investors but also make them want to ultimately invest. This book recognizes that there is no consent on how to apply valuation methodologies in life sciences. One of the complicating factors is that, compared to other industries, valuation of biotech innovation is much more demanding. The long 10-15-year development and clinical trials process still represents the main risks faced by any biotech company. Added to that is the fact that getting a drug across the regulatory goal line and receiving Food and Drug Administration approval (or other regulatory agency - proval in the United States or elsewhere in the world) for marketing is no longer good enough. Since the biotechnology industry is not isolated from the major influences affecting the overall healthcare industry, the reality of de facto healthcare cost controls will mean a significant reduction in “peak sales” for individual drugs. Science will no longer be the deciding factor; payor agents will play a far more activist role via reimbursement criteria, co-payment arrangements and similar rationing technologies.

Reviews

From the reviews:

"‘Valuation in Life Sciences: A Practical Guide’ leads readers step by step through the theory of life sciences valuation. … it is an important read for biotech investors. … It is the first book of its kind that combines industry data and valuation theory together with practical advice. It includes valuation techniques and tools that allow investors to pick undervalued biotech stocks." (GEN – genetic engineering news, February, 2007)

"Valuation in Life Sciences: A Practical Guide opens up the black box and describes, step by step, a relatively simple procedure for quantitative valuation in life sciences. The book guides the reader through the recommended procedure of quantitative valuation … . This book is recommended to those who would like to acquire a profound understanding of quantitative valuation and use a simple spreadsheet approach of their own cases." (Rudolf Gygax, Nature Biotechnology, Vol. 25 (9), 2007)

"This book provides some interesting examples – for business development and licensing executives – of where ROV may be used. … For the general reader and business development executive there is a good explanation of ROV and its applications in life science … . The book may also be of interest to biotechnology company business development executives and university technology transfer officers … . this book is essential reading as it not only provides the mathematical theory but also the applications in different types of deals." (Roger Davies, Business Development & Licensing Journal, Issue 4, 2007)

Authors and Affiliations

  • Avance, Basel GmbH, Switzerland

    Boris Bogdan, Ralph Villiger

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