Research and Markets: Exit Strategy Options for Biotech & Pharmaceutical Companies in 2011-2012
In “Exit Strategy Options for Biotech & Pharmaceutical Companies in 2011-2012″, ExecSense examines what CEOs, CFOs (and their management teams) need to know about why the next year is a good time to consider selling their company to a strategic partner, competitor, or private equity fund. Take the time to view this online conference from the comfort of your office (on your computer, mobile phone, iPad, or printed out) to make sure you fully understand who is making acquisitions, current deal terms, how to increase your valuation and why many industry experts are saying the next 24 months could be one of the best times in the near future to consider selling your biotech/pharmaceutical company.
If you cannot call-in to view the 3-hour online conference at 1:00 EST, Friday, April 29th, ExecSense will email you the PowerPoint, audio and supplementary files by the next day for viewing at your convenience (you simply need to register beforehand). After you have registered to attend, you can submit a list of 3 specific topics/questions you would like to have addressed in the online conference (all information will be kept anonymous) that are guaranteed to be answered/covered by the speakers during or after the online conference.
This online conference features the insights of a panel of investment bankers, industry analysts and lawyers that all have extensive experience specifically working with biotech/pharmaceutical companies, and focuses on:
Everything you need to know about the best exit strategy options for biotech and pharmaceutical companies in 2011-2012
Perspectives from leading biotech/pharmaceutical investment bankers on why the next 24 months may be a very good time to consider selling your company
A list of the biotech/pharmaceutical companies that are most actively doing acquisitions right now, what types of companies they are buying, important deal points to note about their most recent acquisitions, and how to best position your company to create a bidding type atmosphere to get you the highest valuation possible
Alternative options to selling your entire company, including selling a minority or majority stake in the company due to favorable tax laws for 2012, estate planning opportunities, and the current state and volatility of the financial markets
A comprehensive overview of being acquired versus a merger, reverse-merger, IPO, and other potential exit strategies, including a detailed look at the financial and legal sides of each strategy and how they would impact management, employees, and investors/shareholders
How to identify and approach a strategic partner, competitor, or private equity fund that is the optimal fit for acquiring your company
The 10 questions most frequently asked by CEOs and CFOs of biotech/pharmaceutical companies about what factors impact their company’s valuation and attractiveness to buyers (or public investors), and what they should be doing right now to best position their company for a successful exit strategy
Case studies of other biotech and pharmaceutical companies that have recently sold in the current economic environment, what had the greatest impact on getting them the best deal terms and valuation possible, and key lessons for positioning your own company for a successful exit strategy
This online conference also includes a 15-page research report featuring comparable analysis of acquisitions in the biotech/pharmaceutical industry, the most up-to-date information on biotech/pharmaceutical company valuations, acquisition deal terms, negotiation strategies, tax strategies, and more, including a detailed look at the financial and legal sides of key deal terms and how they would impact the CEO, management, employees, and investors/shareholders
Physicians Prefer Pharma Reps to Deliver Information via iPad®
Intouch Solutions® Inc., a digital marketing agency servicing the pharmaceutical industry, today released research detailing the preferences of physicians who receive visits from pharmaceutical sales representatives and how they prefer product information (called a “detail”) to be delivered. The survey results were announced at the CBI Bio/Pharmaceutical Forum on Specialty Sales Models in San Diego.
“In an era of increasingly difficult access to physicians, we believe tools such as the iPad and similar devices will help open new lines of communication across health care stakeholders”
Among surveyed physicians:
More than one third had received an iPad detail from a pharma sales representative
Of those that had received an iPad detail, 68% reported being extremely satisfied or very satisfied with the format
“In an era of increasingly difficult access to physicians, we believe tools such as the iPad and similar devices will help open new lines of communication across health care stakeholders,” said Faruk Capan, Intouch Solutions CEO.
Younger Physicians Keen on Digital Delivery
The research also explored disparities between older and younger physicians. Overall, digital detailing— information delivered in person by a representative via digital device such as a smartphone, iPad or tablet—was still the preference. In fact, 8 in 10 physicians rated digital detailing as the same or better than previous methods such as paper-based visual aids. But this preference was higher by a wide margin among younger physicians: Significantly more physicians who had been in practice 20 years or less believed digital detailing was better than previous methods such as paper-based visual aids. The opposite was true for physicians in practice more than 20 years who were more comfortable with paper-based details.
The survey was fielded online by The Harrison Group in March 2011 among 100 U.S. physicians. All physicians surveyed had an active clinical practice and were a mix of general practitioners and specialists. In addition, physicians had received some sort of in-person detailing by a pharmaceutical representative in the last six months, and half of the sample (50 physicians) received in-person detailing via iPad. The total sample reported was weighted to the true proportion of iPad presentations. Physicians were asked a battery of questions about their in-person detailing experience and satisfaction with different tools used.
“We’re working with many of our pharma clients now to help them adapt to these new devices at a rapid rate, and we expect the trend to continue,” said David Windhausen, Intouch Solutions senior vice president, who delivered select results during his conference presentation this morning.
How does the revised ABPI code of practice affect what pharmacists do?
Pharmacists working in the pharmaceutical industry in particular need to know about the code and its provisions. But any pharmacist on the receiving end of the industry’s marketing efforts should also be aware of the latest changes.
These include no longer giving away branded promotional aids, increasing transparency between health professionals and industry colleagues and allowing pharmacists in industry to take more responsibility for the approval of promotional material.
Pharmacists should understand how the code fits with the General Pharmaceutical Council’s standards of conduct, ethics and performance. To help with this, the PMCPA has developed an e-learning module about the code for health professionals.
The module is a free training resource and has been certified as conforming to continuing professional development guidelines. It is available from the PMCPA website (see also a flyer PDF 1.1 MB).
The module investigates the relationship between the industry and health professionals by focusing on the responsibilities of both sides when entering agreements about sponsorship, meeting representatives, medical education, attending meetings or working as a consultant.
A “Quick guide to the code for health professionals” has been developed to complement the module. It is also available to download from the PMCPA website.
Although some complaints about companies’ activities are submitted to the PMCPA by competitor companies, on average more complaints are received from health professionals. Typically complainants will allege that a company’s promotional claims are misleading and submit published studies and other literature in support of their position.
The PMCPA has a code of practice panel whose job is to evaluate the parties’ submissions to determine where the balance of the evidence lies. There is an appeals procedure for parties that do not accept the panel’s rulings.
One of the keys to successful self-regulation is transparency and all the complaints proceedings are published in the form of case reports both online and in the quarterly “Code of practice review”. The publication of case reports acts as both a sanction for the offending company and as a learning tool for others.
In addition, for the most serious cases, an advertisement with brief details of the case is published in the professional press, including The Pharmaceutical Journal.