...January 2014 2014 Global Biotech Outlook Differentiated Growth, Advancing Pipelines Should Drive Outperformance; Conf Call at 11am ET Today The biotech sector had a stellar 2013 (NBI: +65%; S&P: +29%) driven by strong demand for the sector’s key products, many positive phase 3 studies and a wave of successful IPOs. Looking to 2014, we think the fundamental backdrop is very similar with 1) beatable revenue growth expectations (2014e: +16% vs. 2012/2013: +12%) including several high-profile drug launches, 2) many pivotal studies set to read out and 3) a stable/favorable regulatory and reimbursement environment. Notably, these factors should continue to make biotech attractive to generalist investors, who played a major role in the 2013 outperformance. Our bias is to stick with large caps as well as mid-caps with approved products; revenue/EPS/cash flow forecasts for 2015 and beyond look broadly beatable, in our view. In contrast, we suspect that “pure pipeline” or tech platform small caps could be more volatile in 2014. We continue to believe that the biotech industry is in the early innings of an innovation cycle with many labelexpansion opportunities and novel agents in phase 2 or 3 trials that are largely unaccounted for in Street models. Hence, we are bullish on the group for 2014. Please join us for a call today at 11am ET to discuss our sector outlook/favorite names (US dial-in: 888-889-1309; OUS: 773-756-0161; Passcode: BIOTECH). Large-cap biotech: We don’t believe that...
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...are provided to illustrate the application of the various views under Issue 2 of Issue Summary No. 1, Supplement No. 1. Fact Pattern - Biotech License and R&D Contract Biotech Company (Biotech) enters into an agreement with Pharmaceutical Company (Pharma) on January 1, 20X1. The agreement includes Biotech (a) licensing certain intellectual property rights to Pharma and (b) providing research and development (R&D) services to Pharma with the objective of developing a viable drug candidate and receiving U.S. Food and Drug Administration (FDA) approval of the drug candidate. Arrangement consideration is as follows: • • Biotech receives $5 million in licensing fees upon signing the agreement Biotech receives $250,000 per year for each full-time equivalent (FTE) that performs R&D activities • Milestone Events: 1. Biotech receives $2 million upon identification of a viable drug candidate 2. Biotech receives $3 million upon successful Phase II clinical trial completion 3. Biotech receives $5 million upon FDA approval. The license and FTE fees are comparable to rates charged by Biotech in other arrangements and are also considered comparable to rates charged by Biotech's competitors and contract research organizations. None of these payments, once received, are refundable, even if FDA approval is never received. In addition, while Biotech must perform on a best-efforts basis, it is not obligated to achieve the milestones. Biotech’s analysis of its other R&D arrangements indicates...
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...integrated biotechnology company, biotechnology start-up company, Contract Research/Manufacturing Organizations (CRO/CMO), Fuel biotechnology and Agri-biotechnology we can see what the unique properties each of these sectors have and what they share with each other. Vertically Integrated Biotechnology Company Vertical integration is the replacement of transactions in the marketplace with internal transactions within the company. Vertical integration is the result of mergers acquisitions of other companies that once supplied the parent company. It allows the company to control the economy of its products. The use of this business model has led to many advantages and disadvantages within the biotechnology industry. Vertical integration of biotech companies has offered many advantages to the growth of not only the business but also the growth of the technology offered by the company. However, growth through integration can also have many disadvantages. By examining both we can see how vertical integration plays a part in the growth of a biotechnology company. The vertical integration model has been around for many decades. Biotechnology companies apply this business model to grow and strengthen the business of the company. Vertical integration allows companies to control products from raw materials to end product. This type of business model allows the company to better manage the supply chain to ensure the product is available when the customer needs it. It reduces supply chain...
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...Summer Project Report Study of MDA (malondialdehyde) as abiotic stress marker in CSV-17 variety of Sorghum bicolor. Submitted in partial fullfilement of the requirement for B.Tech. Biotechnology Semester VII AMITY INSTITUTE OF BIOTECHNOLOGY AMITY UNIVERSITY RAJASTHAN JAIPUR 2011 Supervised by: Dr Ajit Kumar Sr. Research Officer S.P. Institute of Biotechnology, Jaipur Submitted by: Ravi Pareek DECLARATION I hereby declare that the project report entitled “Study of MDA (malondialdehyde) as abiotic stress marker in CSV-17 variety of Sorghum bicolor” is a record of the work compiled by me under the supervision and guidance of Dr. Ajit Kumar, S.P. Institute of Biotechnology, Jaipur as a part of my 45 days summer training. Ravi Pareek (B.TECH-BIOTECHNOLOGY) (AUR0821094) ACKNOWLEDGEMENT First of all with due regard to my respective god with whose kindness and blessing we could be able to accomplish the task of training. Mr. Sourabh Pareek, for his kind permission to allow me to undergo my major project at S. P. Institute of Biotechnology, Jaipur. I am overwhelmed with rejoice to take this opportunity to evince my profound sense of reverence and gratitude to my esteemed supervisor respective Dr. Ajit Kumar, for giving his regular advice and excellent suggestion which have helped us for completing the study. His regular assistance and guidance really helped me to bring formidable task in successful manner. Sincere thanks to Dr. Sonali Jana and Dr. Neha Upreti for their cooperation...
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...The business and scientific research domains have remained discrete to each other until recent global financial crisis. However, the economic downturn and increasing demand for alternative healthcare products have brought the paradigm shift in past couple of years. Substantial decline in federal research support have pushed scientists to find alternate ways to support their research. Across the globe these financial pressures, evolving scientific technologies and growing demand of healthcare industry turned several biomedical researchers into bioentrepreneurs. According to a latest report the Biotech industry is on track to raise $44 billion in 2011—the most ever, including the genomics bubble of 2000. Biotech indexes performed well and the private biotech sector was also up, raising $2.9 billion (1) (also see appendix: 1). Moreover, according to the recent IMS world review and McKinsey Global Institute Report, USA remains on top with 444 billion USD projected pharmaceutical markets by year 2015 (2). These emerging trends in biotechnology sector prompted several others like me to explore the path of bioentrepreneurship however, after investing my past 15 years as a pure biomedical researcher the language of accounting is as foreign to me as any biotechnological lingo for an accountant. Thus I started to acquaint myself with this new business language. I firmly believe that a journey of biomedical scientist starting from bench side (of a basic research laboratory)...
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...Terminsprøve Opgave 1: b. Jo lavere pKs en syre har, jo stærkere er den. Syers styrke angiver dens evne til at reagere med vand. pKs kan udregnes ved formlen pKs=-log(Ks), hvor Ks er syrens styrkekonstant. Jo større denne værdi er jo mere af syren er omdannet til den korresponderede base og oxoniumioner. Og jo stærkere syren er jo mere reagere syren også, og det vil derfor ikke blive omdannet mere syre til den korresponderede base og oxniumioner, som betyder en højere Ks, som dermed vil give en mindre pKs, som det kan ses på formlen pKs=-log(Ks).Disse ligger pKs værdier varierer mellem -7 og ca. 14. fx en Ks på 10 vil give en pKs på -1 hvorimod en Ks vil give en pKs på -0,6. Det kan virke ulogisk at en syre er stærkere jo lavere pKs da man ofte ser at jo højere et tal er, jo større eller stærkere er det også. d. Når man fortynder en buffer, ændres pH ikke. Et puffer er en blanding af en svag syre og en korresponderende svag base. Hvis vi kigger på en blanding af ethansyre og ethanoationer, der er i en 0,1 M opløsning. Hvis der tilsættes lidt stærk syre, vil det jo koncentration af hydroxid ioner falde og dermed også pH. H3O+aq+OH-aq←→2 H2O(l) Men imens reagerer den svage base med vandet og der bliver gendannet hydroxid ioner. Hvis man i stedet tilsætter lidt stærk base, falder koncentrationen af oxoniumioner og dermed falder pH også. Det bliver dog gendannet da den svage syre reagere med vand og gendanner oxoniumioner og fastholder altså pH. Så en svag syre og dens...
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...A ABA: abscisic acid AIDS: acquired immunodeficiency syndrome AM: annealing mix ampr: ampicillin-resistance gene amu: atomic mass unit AP: alkaline phosphatase ARS: Agricultural Research Service ATP: adenosine 5’-triphosphate au: absorbance units B BLAST: Basic Local Alignment Search Tool, a computer program that allows researchers to compare biological sequences bp: base pair BS: Bachelor of Science Bt: Bacillus thuringiensis (B. thuringiensis) C CaCl2: calcium chloride cDNA: copy DNA CD4 cells: referring to human white blood cells, which contain the cell surface recognition protein CD4 cm: centimeter CF: cystic fibrosis CD: compact disc CDC: Center for Disease Control and Prevention cGMPs: good manufacturing practices CHO: Chinese hamster ovary cm: centimeter CPDP: Comprehensive Product Development Plan CO2: carbon dioxide COOH: carboxyl [group] CT [scan]: computed tomography CuSO4: cupric sulfate (anhydrous) D dATP: deoxyadenosine triphosphate, the cell’s source of cytosine (C) for DNA molecules D: diopter DEAE: diethylaminoethyl DNA: deoxyribonucleic acid dH20: distilled water ddNTP: dideoxynucleotide dNTP: deoxynucleotide triphosphates (the dATP, dCTP, dGTP, and dTTPs) DMV: Department of Motor Vehicles DPA: diphenylamine [solution] DTT: dithiothreitol DVM: Doctor of Veterinary Medicine E EDTA: ELISA: enzyme-linked immunosorbent assay EPA: Environmental Protection Agency EtBr: ethidium bromide EtOH: ethanol ...
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...* Calmette was a French physician, bacteriologist and immunologist, and an important officer of the Pasteur Institute. * He discovered the Bacillus Calmette-Guérin (BCG), an attenuated form of Mycobacterium used in the BCG vaccine against tuberculosis. * He also developed the first antivenom for snake venom, the Calmette's serum. * In 1890, Calmette met Louis Pasteur who was his professor in a course on bacteriology. He became an associate and was charged by Pasteur to found and direct a branch of the Pasteur Institute at Saigon (now Ho Chi Minh), in 1891. * Calmette was a French physician, bacteriologist and immunologist, and an important officer of the Pasteur Institute. * He discovered the Bacillus Calmette-Guérin (BCG), an attenuated form of Mycobacterium used in the BCG vaccine against tuberculosis. * He also developed the first antivenom for snake venom, the Calmette's serum. * In 1890, Calmette met Louis Pasteur who was his professor in a course on bacteriology. He became an associate and was charged by Pasteur to found and direct a branch of the Pasteur Institute at Saigon (now Ho Chi Minh), in 1891. Léon Charles Albert Calmette (July 12, 1863 – October 29, 1933) Works * In the Pasture Institute, he dedicated himself to the nascent field of toxicology, and he studied snake and bee venom, plant poisons and curare. * He also organized the production of vaccines against smallpox and rabies and carried out research...
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...INCYTE : BIOTECH FEST EVENT : BIOTECH BUSINESS PLAN INDIVIDUAL ENTRY : PROPOSAL : An R&D and production based organisation specialized in tissue culture and stem cell technology , skin and epidermal tissue culture and reintegration, cell-tissue-organ banking, cultivation of tissues which are compatible according to individual requirements. The venture will also have a humanitarian aspect of extending help to patients looking for organ replacement, burn victims in need of skin for skin grafting. The venture will have three intertwined multiple wings. An R& D wing to develop and improve on existing techniques, different production wings to execute the techniques, management groups to improve on marketing strategy advertising and spreding awareness. The main goal of this venture is to develop cell and tissue compatible with the recepient’s requirements and serve consumers with better availability of tissue and cell types . Easy availability will greatly increase survival rates, especially in case of burn victims who badly need skin grafting to survive. MARKETING STRATEGY : Purpose: Investments in Niche Biological Products and Services will lead to increases in export revenues of biologically-based products (apart from food products) with returns significantly above commodity levels based on global market-led and valued, research-based...
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...FORENSIC ACCOUNTING SPECIAL INTEREST GROUP VALUING A BIOTECHNOLOGY COMPANY DAVID RANDERSON ACUITY TECHNOLOGY MANAGEMENT PTY LTD Melbourne, May 2001 1. Valuation Methodologies Techniques used for valuing intangible assets, of which intellectual property (IP) is one form, may be put into three main categories1: 1. Cost Based; 2. Market Based; and 3. Revenue Based. Biotechnology companies, because their main assets are generally IP, have values that are invariably determined by their intangible assets. The valuation of a mature company tends to follow a methodology that draws heavily on its historical income, either by performing a discounted cash flow of future earnings the confidence in which derives from past activity, or capitalisation of maintainable earnings. Another technique considers the orderly realisation of assets. As most biotechnology companies have no historical revenues and the tangible assets are not representative of a company’s real value, these methods are seldom applicable. Conceptually, the value of a company is the sum of its assets value. However, accounting practices allow companies to reflect only the tangible part of their assets. Obviously, high valuations of companies that are in negative cash flow and with minimal tangible assets is causing concern to the taxation office (as demonstrated by their stance on core technology valuations in R&D syndicates) and the Australian Securities and Investment Commission (ASIC). 1 Reilly RF, Schweihs...
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...Genomic Health, Inc. External Analysis Report Presented to: Dr. Karen Middleton Texas A&M University – Corpus Christi Submitted by: Jacinda Martinez Jennifer Kindred Shiwei Chen Yang Gao Ying Zhang October 16, 2013 TABLE OF CONTENTS LIST OF TABLES iii EXECUTIVE SUMMARY iv INTERNAL ENVIRONMENT 1 MISSION STATEMENT 1 FINANCIAL RATIO ANALYSIS 1 STOCK ANALYSIS 2 VRIO TEST 3 CORE COMPETENCIES 3 Research & Development 3 Patents 5 Management Team 6 Reputation 7 CURRENT BUSINESS AND CORPORATE LEVEL STRATEGY 9 Business Level Strategy 10 Corporate Level Strategy 10 STRENGTHS AND WEAKNESSES 13 Strengths 10 Weaknesses 10 SWOT MATRIX 13 REFERENCES 25 LIST OF TABLES (need to redo these for internal tables) Table 1: Strategic Group Dimensions 13 Table 2: Liquidity Ratios 14 Table 3: Leverage Ratios 15 Table 4: Activity Ratios 15 Table 5: Profitability Ratios 16 Table 6: Growth Ratios 17 Table 7: Stock Analysis 18 MISSION STATEMENT Genomic Health is dedicated to addressing the difficult challenges of cancer treatment by utilizing genomics to help physicians and patients choose the most appropriate treatment options with optimal confidence. Table 1: Nine Components of a Mission Statement Customers | Yes | Products/Services | Yes | Markets | Yes | Technology | Yes | Survival, Growth, Profitability...
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...Table of Contents I. Early/mid stage biotech funding environment at a glance II. “Regenerate Biomedical” (fictional biotech company) overview a. Company milestones, stakeholders, funding to date b. Preliminary testing results for DRX c. Clinical Trials and funding needs for DRX d. Overview of Phase I Results for DRX e. Probability DRX clears phase II III. Market Overview - Hair Therapy Industry a. Market and competitive landscape b. DRX competitive advantage c. DRX Sales Forecast (three scenarios) d. Analyst Assumptions IV. Risk Profile for early/mid stage biotech companies a. Assumptions- Beta, Cost of Capital, WACC V. Overview Regenerate Biomedical funding options for DRX a. Initial Public Offering (IPO) b. Private Equity (PE) c. Big pharmaceutical company a. “Aderans” preliminary acquisition offer d. Venture Capital b. “Bio Venture” preliminary deal terms VI. Results and Conclusion a. Strategy 1 b. Strategy 2 c. Strategy 3 I. Early/mid stage biotech funding environment at a glance Biotechnology is typically defined as any science that harnesses cellular and bimolecular substances to develop new technology, drugs and products. Biotechnology has multiple applications - food alteration, genetic research, environment and energy, and human and animal health products, to name a few. Over the years, the biotech industry has produced some of the world’s greatest advances in...
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...DQ 1 Making a Difference – Biotech Academy To Buy This material Click below link http://www.uoptutors.com/edu-644-new/edu-644-week-4-dq-1-making-a-difference-biotech-academy At-riskchildren benefit from access to specific programs that support their success in a school environment. By providing opportunities that students can connect with, the probability of them staying in school and matriculating to a two- or four-year college or university will increase. Biotech Academy in San Jose, California is an interdisciplinary program that focuses on bioscience. The program and its faculty, however, provide supports for at-risk students that go far beyond academics. To prepare for this discussion, watch the nearly 10-minute video Biotech Academy: A catalyst for change. Note that this video can also inform your completion of the Week Four Assignment. Initial Post: Create an initial post that addresses the following: a. Share a minimum of three things you observed showing how teachers at Biotech Academy instigate and maintain student support and success. Be sure to consider what characteristics they have to have and what behaviors and practices they need to present to their students. b. Describe the impact collaboration between teachers, parents, and students has on student success as well as having a spirit of cooperation instead of competition between students. c. Discuss two to three observations you made that show relevancy between Biotech Academy instruction & supports...
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...Forces Analysis • Threat of New Entrants. Because the biotech industry is filled with lots of small companies trying to hit the jackpot, the barriers to enter this industry are enough to scare away all but the serious companies. Biotech firms require huge amounts of funding to finance their large R&D budgets. Having ample cash is one of the biggest barriers, so when interest rates are low, or the equity markets are receptive to initial public offerings, the barriers are lower. Specialization also creates barriers. For instance, knowledge about cancer and heart disease is quite high, whereas a company focusing on something more obscure would likely have a low threat of new entrants because there are very few experts in this field. • Power of Suppliers. Biotech companies are unique because most of their value is driven by intellectual property. The nature of their business does not force them, unlike other industries, to rely on suppliers. Scientific tools, materials, computers and testing equipment is highly specialized, but the likelihood of these companies invading on their line of business is not very high. One snag is that marketing alliances have often proved to be problematic. Small biotech firms don't have the distribution capabilities to promote their new drugs, so they are forced to license their drugs to other suppliers. • Power of Buyers. The bargaining power of customers has different levels in the biotech arena. For example, a company that sells pharmaceutical...
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...Taiwan’s Biotechnology Industry Taiwan’s Biotechnology Industry With the IT industry increasingly moving to China, the biotechnology industry has been cited as a potential driver for the next stage of Taiwan's economic evolution. Yet while its credentials are strong, it should not be expected that the Research & Development (R&D) heavy industry to start making positive figures in GDP accounts anytime soon. However, there is potential for society with the biotechnology industry. For example, in the development of cheaper medicines and food sources that benefit continents, biotechnology could perhaps outstrip even IT in changing the way the world works. Biotechnology also holds interest for more than simply the altruistic-minded, as it is an industry that has demonstrated a potential to make people very wealthy. Taking the United States as an example, the period between 1993 and 2001 demonstrated biotechnology revenues leap from US$8.1 billion to US$25 billion, according to the Biotechnology Industry Association.[i] And there is little reason to think that this trend will slow any time soon. Thus there is not much to question as to why the biotechnology world has lately attracted so much attention in Taiwan. With the early drivers of Taiwan's "second economic miracle" in the IT industry rapidly relocating to low-cost China, the search for a high value-added replacement has been intense.[ii] Given the numbers, biotechnology is a very attractive choice; as stated...
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