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Previous NSEP Event

Managing Risk and Growth

for Pharmaceutical and Biotechnology companies

Wednesday 3^rd November 2004, Four Seasons Hotel, London, 18.30

Event timing

The event starts at 6.30pm. 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

For all Pharmaceutical and Biotechnology companies growth is an imperative: standing still is not an option. However in this industry especially, there is a high risk factor when trying to grow, and too much growth could result in too much risk and potential disaster.

This networking evening will look at how the CEO and FD should be driving the company to ensure that it grows at a good rate without taking on excessive risk. This can range from risk mitigation techniques to growing the company inorganically through M&A. The event is designed to have plenty of time for questions from both the speakers and the floor, giving further insights from leading industry figures.

In particular the following issues will be examined:

The opportunities available to hedge the risk and thus maximise growth
When diversification leads to increased risk and when it reduces risk
How the shareholder/investor sees risk and growth and whether this affects short and long term planning
How much the CEO and FD should manage risk proactively and how much they can delegate
When and where sub-contracting works as a tool for risk management and faster growth
Determining the optimum size to reap economies of scale
Identifying when to use mergers and acquisitions as value enhancement, risk mitigation and growth tools and when to avoid them
Balancing your company's immediate goals with the need for long-term, sustainable growth
"Go, No Go" decision-making - when "No" is the most important decision
Dealing with catastrophic risk (an unfavourable regulatory decision etc.)
Why "Maximizing Growth, Minimizing Risk" does not work
Short term growth v long term growth and the different risk profiles
Maintaining growth at an acceptable rate - identifying the minimum growth rate necessary to survive
Determining when to use mergers and acquisitions as value enhancement, growth and risk mitigation tools and when to avoid them
How to avoid "all or nothing" risks
Finding a way to evolve from a development business to a profitable, fully integrated pharmaceutical company
The different risk profiles at the different stages of growth

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 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

Outstanding speaker panel

Robert Morrisson Atwater - Chairman and Chief Executive Officer CYPROTEX

Robert Morrisson Atwater's career to date has spanned 15 years working in the bio-pharmaceutical industry, as well as financial services. Robert joins Cyprotex from San Francisco-based Thalassa Capital Management LLC, an asset management firm which he co-founded which concentrates on bio-pharmaceutical opportunities worldwide. Prior to Thalassa, Robert worked for a number of years in business development Europe and Asia for BioChem Pharma, which was subsequently acquired by Shire Pharmaceuticals Group plc. Robert has also worked for a number of prominent financial services companies. He studied at L'Universite de Neuchatel in Switzerland and is a graduate of the University of Massachusetts at Amherst.

Daniel Abrams - Finance Director XENOVA

Daniel joined Xenova in October 1997 as Finance Director and is also responsible for corporate communications, legal and company secretarial functions.

Before joining Xenova, Daniel was previously Vice President Finance, Asia and Africa Division, PepsiCo, where his responsibilities included finance, IT and Treasury functions. He was directly involved in various strategic initiatives to develop the international soft drinks franchise.

Prior to PepsiCo, Daniel was Group Head of Corporate Finance and Strategy at Diageo plc (formerly Guinness plc), from 1987-1993. He was responsible for corporate finance and strategy and was directly involved in leading more than fifty acquisitions and disposals as well as the group's share buy-back programme. Daniel Abrams is a member of the BioIndustry Association Board.

David Lawrence - Chief Financial Officer ACAMBIS

David was appointed to the Board on 8 July 2004 and officially joined Acambis in the August. Prior to joining Acambis, David was Vice President of Finance for Chiron Vaccines, part of Chiron Corporation, where he was responsible for strategic planning, business development, mergers and acquisitions, and played a lead role in Chiron's acquisition of the UK vaccine company, PowderJect Pharmaceuticals plc.

Previously, David worked for GlaxoSmithKline plc, which he joined in 1988 as a graduate trainee and where he progressed through a number of senior roles in Finance, Information Management and Distribution to become Head of UK Finance and Senior Vice President of Financial Management in Research and Development. He was also CFO for Strakan Pharmaceuticals, a privately owned biotechnology company.