May 2003 Event

TLA Buster
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Previous NSEP Event

Mergers & Acquisitions and Joint Ventures in the Pharmaceutical and Biotechnology Industry

Thursday May 15th 2003, 18.30 The Ballroom, Caf� Royal, London

Event timing

The event starts at 6.30pm (Registration from 6.00pm). The short talks and panel discussions last approximately 1� hours and will be followed by cocktails and canap�s - 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. The unanswered question is how many of them have led to increased shareholder value? As 61% of mergers or acquisitions destroy shareholder value whilst the seemingly "easier" joint ventures seem to still cost huge amounts, what are the options for Indeed, it has been suggested Biotechnology companies will need to merge to survive. Many have developed unique and valuable technology, but such technology may not be sufficient to sustain an independent entity.

The coming consolidation will be driven by a lack of financing. Whether venture funding or public market funding, financing is drying up, except for the highest quality names. This is a trend that few can see changing in the foreseeable future. The event will look the real truths of the situation, assessing whether Biotechnology companies are indeed 'underperforming', and what the best options are for their shareholders. In particular the following issues will be examined:

In particular the following issues will be examined:

The drivers behind the push for M&A - based on sound business sense or is it a lack of understanding of the industry by the city?
What types of companies are likely to look for mergers, which should look for joint ventures and which should carry on as they are
To acquire or be acquired, that is the question
Under what circumstances do M&A or JVs lead to increased shareholder value?
If you are looking for a JV, should you be looking at the big players or someone your own size?
How Senior Management should be decided in a merger
Defending hostile bids
Why it is better to consider the issue now even if you have a strong balance sheet
What is the ideal size for a Biotechnology company (big enough to be attractive to institutional investors, yet small enough to be flexible)?

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.

Outstanding speaker panel

Jon Symonds - Chief Financial Officer AstraZeneca

Jon joined AstraZeneca- or Zeneca as it was then - as CFO in 1997, having previously spent 17 years at KPMG. Within 12 months he was involved in the negotiation of the merger with Astra which formed AstraZeneca in l999. Jon became CFO of the new company with responsibility for IS and investor relations. The new company was reshaped with the divestment of the agrochemical and specialties businesses to form one of the most focused prescription pharmaceutical companies in the industry. The company is now mid-way through a major portfolio transformation. Outside AstraZeneca, Jon is a non-executive director of QinetiQ (formerly DERA), about to become Chairman of the 100 Group of Finance Directors, is a member of the Accounting Standards Board and is joint Chairman of the Business Tax Forum.

Simon Sturge - Chief Executive Officer RiboTargets

Simon gained a BSc in Biology at Sussex University and has worked in various commercial and senior management positions within the pharmaceutical and biotechnology industry, including Astra Pharmaceuticals, where he was Business Development manager. Prior to founding RiboTargets, Simon worked at Celltech, as CEO of Celltech Biologics (now Lonza Biologics) and a member of the Celltech Group Board of Directors.

Dr Steven Powell BSc PhD - Chief Executive Officer KS Biomedix

Dr Powell joined KS Biomedix at the end of 1999. He has a proven track record in the management of life science companies with extensive experience of marketing, business development and general management in large pharmaceutical, listed biotechnology and start-up companies.

Dr David Raymond Ebsworth - Chief Executive Officer Oxford Glycosciences

Dr. David Ebsworth joined as an Executive Director in June 2002 and assumed the role of Chief Executive Officer in July 2002. He has over 20 years experience within the pharmaceuticals industry. Most recently he was head of the worldwide Pharmaceutical Business Group of Bayer AG. Prior to that, he was President of Bayer Pharmaceutical Division in North America with responsibility for all functions from research through clinical development, regulatory affairs, sales and marketing, finance and strategy. Previously, he held a number of senior management positions within Bayer in Canada, Europe and the US. In 2001, he received the Global Citizen Award from the School of Diplomacy and International Relations at Seton Hall University in New Jersey. He is a non-executive directive of SkyePharma plc and Curagen Corporation. He holds a PhD from the University of Surrey.

Viggo Birch - Managing Director Novo Nordisk UK

Managing Director Novo Nordisk UK, Ireland, The Nordic Countries and Vice President Europe. Viggo is a Business Economist from Copenhagen Business School and Wharton School, Pennsylvania and has been 15 years with Novo Nordisk of which 11 years in Spain as Managing Director for Spain & Portugal. Started in the UK October 2001. Prior to Novo Nordisk worked 11 years with Mobil Oil in various sales, marketing and managerial positions. Latest as Director, Strategic Planning Benelux and the Nordic Countries based in Rotterdam from 1984 to 1987.

The cocktail party immediately following the event (it is almost worth coming for the famous Four Seasons canap�s 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

Reserve a place

Your attendance can be registered by telephoning 01923 256585 or completing either the membership or event registration form. Membership is annual, and entitles the member to free attendance at all networking evenings (at least 3 per year) along with many other benefits. We do not encourage applications from anyone beneath director/vp/partner level.

We look forward to welcoming you on Tuesday 3^rd November.