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Previous NSEP Event


How to ensure Mergers, Acquisitions and Joint Ventures increase shareholder value

And why they often do not


Thursday 23rd June 2005, Four Seasons Hotel, London



Event timing

The event starts at 6.30pm (Registration from 6.00pm). The short talks and panel discussions last approximately 1 ¼ hours and will be followed by cocktails and canapés - the ideal networking opportunity.

About the event

There have been some high profile mergers and acquisitions in the pharmaceutical and biotechnology industry in recent years. Many of these have proven far more difficult to extract value from than expected, whereas others have worked very well. It is none the less unclear whether the successfully merged companies actually had a better product fit, better management, handled the integration better or just got lucky.

In contrast to this, the alternative route is to set up a joint venture or licence. However, as we have seen of late, contractual and other disputes can make these a nightmare with only the lawyers winning.

The driver behind these alternatives is the need of big Pharma for new products and the need of resources by Biotechnology companies. This networking evening will discuss the best way forward in creating shareholder value; looking at the successes, analysing why they were successful and also looking at why others did not work out as expected.

In particular, the following issues will be addressed:

  • What to look for when considering an acquisition/joint venture: balance sheet, product pipeline, product fit, potential cost savings etc.
  • The resources you should put into looking for a partner to acquire/be acquired by/enter a joint venture
  • Is there a stage at which a smaller company will need to be acquired or is it still possible to grow organically?
  • Identifying that stage and planning for it
  • Do hostile bids ever produce a success for shareholders in the acquiring company?
  • Is it possible to identify and manage all the risks of a transaction or is risk just something you have to live with?
  • Reconciling the aims of the two parties in a joint venture
  • The reasons why joint ventures/licensing agreements go wrong and how to avoid those pitfalls
  • Deciding the management for the merged company or the joint venture
  • Comparing the cost of the transaction to the (expected) cost savings/increase in value
  • Is there any way to keep the transaction costs (lawyers, due diligence etc.) down without increasing the risk of failure?

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. Due to the nature of this event NSEP will be particularly targeting the investors, including venture capitalists, banks, fund managers and corporate financial advisors.

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.
 

Outstanding speaker panel


Dr Peter Fellner - Chairman   VERNALIS

Peter Fellner is executive chairman of Vernalis plc, and chairman of two private biotechnology companies, Astex Technology Ltd and Ionix Pharmaceuticals Ltd. He is also a director of QinetiQ Group plc and of Isis Innovation Ltd, and is a director-designate of UCB SA. He is a member of the Medical Research Council.

He was chairman of Celltech Group plc until its acquisition in 2004, having served as its CEO from 1990 to 2003. Before joining Celltech, Dr. Fellner served as CEO of Roche UK, from 1986 to 1990. From 1984 to 1986 he was Director of R&D at the Roche UK Research Centre.



Drummond Paris - CEO and Country President  NOVARTIS UK

Drummond Paris has been CEO and Country President of Novartis Pharmaceuticals UK since July 2001. Formerly Global Head of the Transplantation and Immunology Business Unit at Novartis in Basel, Drummond is also member of the ABPI Board of Management. Novartis is a major pharmaceuticals manufacturing, research and development and marketing organisation, £600 million annual turnover, 3000 staff in 10 UK locations. Drummond's responsibilities include delivery of on-budget performance in Pharma businesses including primary care oncology, transplantation and ophthalmology business units; providing effective governance and performance overview in consumer health, ciba vision, animal health and Grimsby manufacturing businesses; representation of Company to key external stakeholders.



Bart Wuurman - CEO   DE NOVO PHARMACEUTICALS

Before joining De Novo Pharmaceuticals as CEO, Drs Bart Wuurman was on the Executive Team of Antisoma plc since May 1998 as Director of Business Development. After graduating in Pharmaceutical Sciences in the Netherlands in 1987, he has been in marketing and business development positions for Organon, Medeva and Antisoma. He gained international experience in all aspects of Licensing and Business Development and has been instrumental to a number of strategically important licensing deals, the last of which was the Antisoma - Roche Oncology Alliance, worth $500 million, signed in November 2002.



Who will attend?

Expected breakdown of job titles

 

Expected breakdown by audience sector

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