[Download] "When Did Biotech Investors Get So Sophisticated? will Febbo, Bioworld Perspectives Contributing Writer, Comments on How Hedge Funds and New Research Models are Changing the Rules of Biotech Investment (Hedge Funds)" by Pharma " Book PDF Kindle ePub Free
eBook details
- Title: When Did Biotech Investors Get So Sophisticated? will Febbo, Bioworld Perspectives Contributing Writer, Comments on How Hedge Funds and New Research Models are Changing the Rules of Biotech Investment (Hedge Funds)
- Author : Pharma
- Release Date : January 01, 2008
- Genre: Chemistry,Books,Science & Nature,
- Pages : * pages
- Size : 92 KB
Description
On a recent earnings call, the CEO of a mid-size pharmaceutical company was fielding all the usual questions about the firm: earnings projections, R&D spending, sales efforts, etc. Then came a question about an experimental drug that was moving through the FDA approval process. The question was based on one of the more esoteric assumptions about the new drug's efficacy. The CEO was stumped. He had heard some murmurings about recent research on the topic, but he hadn't prepared for the question and was clearly rattled. It's easy to understand how this happened. CEOs are paid to handle such matters without flinching, but this CEO had never, in years of investor calls, been asked a question like this. In the past, a quick briefing with his direct reports was more than enough preparation for an investor call. This highlights that there is a fundamental shift underway in the biotechnology investment world, particularly for highly specialized fields such as pharmaceuticals and genetic research. The MDs and PhDs who run biotech companies are no longer de facto more informed than their investors, nor do they have a monopoly on access to information. Investors, it seems, are getting educated.