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Previous NSEP Event

Creating Value Through
Mergers & Acquisitions and Joint Ventures

Tuesday 6th July 2004, Four Seasons Hotel, London, 18.30

 

Event timing

The event starts at 6.30pm. The short talks and panel discussions last approximately 1¼ hours and will be followed by cocktails and canapés - the ideal networking opportunity. We are delighted that this networking evening will be held at the world famous Four Seasons Hotel, one of the most prestigious venues in the country.

About the event

Over the past year there has been an ever increasing number of Mergers and Acquisitions (M&A) and Joint Ventures (JVs) in the Pharmaceutical and Biotechnology industry. The unanswered question is how many of them have led to increased shareholder value?

The oft quoted statistic is that 61% of mergers or acquisitions destroy shareholder value. On the other hand the seemingly "easier" joint ventures seem to still cost large amounts once the ownership rights, sublicenses, royalty structures, licence-back obligations etc. have been drawn up and agreed, whilst growing organically is simply not an option for many. The question therefore remains: "what are the options for Pharmaceutical and Biotechnology companies?"

The most methodical approach is to identify the commercial gap and decide how the company needs to fill the gap. The most cost-effective solution can then be determined: M&A, JV or growth. This networking evening will look at how leading industry figures examine these processes, assessing what the best options are for their shareholders.

In particular the following issues will be examined:

  • Examining how the deal adds commercial advantage as well as shareholder value
  • How to assess whether is it more beneficial for your company to build these capabilities internally or to acquire them externally
  • The extent to which the CEO and senior management should participate in the process
  • Having a corporate strategy that includes M&A/JV strategy
  • Identifying the risks associated with an acquisition or JV and aligning them to the company's tolerance to risk
  • When to "say no" - the situations where deals should not take place
  • How to minimise the cost of M&A/JVs (due diligence, lawyers fees etc.)
  • What types of companies are likely to look for mergers, which should look for joint ventures and which should grow from within?
  • The extent to which M&A is a natural consequence of a fragmented industry
  • How to identify potential cost-saving synergies in a merger/acquisition

Networking evening

 One of the main reasons to attend this event is the opportunity to meet other key players within the industry, whether they be CEOs, Finance Directors, other key Directors, Consultants, Lawyers etc.

The cocktail party immediately following the event (it is almost worth coming for the famous Four Seasons canapés themselves!) is the ideal place to discuss matters in a less formal environment, whether this discussion is directly related to the event topic or not.
 

Who will attend?

Expected breakdown of job titles

 

Expected breakdown by audience sector


Outstanding speaker panel


Dr Phil Gould - Chief Executive Officer   PROVALIS

Phil read Chemistry at the University of Hull, and went on to complete a PhD in Chemical Kinetics. He is Honorary Professor of Health Sciences at John Moores University, Liverpool and is a fellow of the Royal Society of Chemistry. His management training was from the Institute of Management Development, Geneva.

Dr Phil Gould is presently Chief Executive Officer of Provalis plc, a healthcare company, with businesses in pharmaceuticals and medical diagnostics, based in the north west of the UK. The Company employs 130 staff, had a turnover in 2003 of ~£14m and, even with a significant R&D spend is approaching profitability. Phil has over 20 years of experience in product development and general management at senior level in the pharmaceutical industry. Prior to Provalis, Phil had a variety of R&D and management positions at GlaxoWellcome (1988-98), Lederle Laboratories (1985-88) and Pfizer Central Research (1980-85). Phil is also the non-executive Chairman of Lectus Therapeutics - a new venture backed company focused on drug discovery of selective ion channel drugs.


Paul Edwards, MBE BSc - Chief Executive Officer   GENEMEDIX

Paul was appointed to the post of CEO in 1999. He was formerly Vice President and General Manager of Genzyme Corporation's UK operation, a company he joined in 1986. Previously he spent 7 years with Beecham Pharmaceuticals, and more recently has worked in management consultancy at Ruston Poole International.

Paul, a former chairman of the Manufacturing Advisory Committee of the UK BioIndustry Association, has worked with the UK Department of Trade and Industry advising on issues related to the manufacture of biopharmaceuticals. In 1997 he received an MBE for services to biotechnology.

In his role as CEO of GeneMedix, Paul is responsible for ensuring that the Company's objective of delivering high quality, cost-effective biopharmaceuticals to a global healthcare market is achieved.


Michael Kerins - Chief Executive Officer   CYTOMYX

Mike graduated from Warwick University with a B.Sc. in Microbiology and Microbial Technology. Following this he held a variety positions at Cambridge BioScience where he was involved in marketing a wide range of life science research products.

In 1996 he co-founded Cytomyx and has led the company throughout its development, including its listing on AIM and several fund-raisings and acquisitions.





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