The Pharmaceutical and Life Sciences (PLS) industry has continued to outperform the broader market in the first three quarters of 2015, especially in the biotechnology and pharmaceuticals sectors. After a record second quarter, the PLS industry demonstrated an increase in deal volume with only a slight decrease in value in the third quarter. Industry trends apparent in these deals included consolidation (most prominently in generics) geared to increase market share and generate shareholder value; divestitures to focus on core competencies; and contingent deal structures to protect against the uncertainties of product development. The pharmaceutical and life sciences companies dominated the initial public offerings (IPOs) in 2015 continuing the trend started in 2013. While there were a number of IPOs that priced below their previously expected range in the third quarter of 2015, the sizeable IPO pipeline indicates that the trend continues, but at a slower pace. Supported with the strong IPO and M&A exits, venture capital continues to invest heavily in PLS, with the $7.9 billion invested in the first three quarters of 2015 exceeding the full year totals for 17 of the last 20 years. In 2015, California is projected to attract significantly more investments compared to what the stateís entrepreneurs received in 2014. This increase was reflected in all stages of company development.
Mikayel Nazloyan will review and analyze the trends, strategies, and practices seen in 2015 and address the potential challenges and opportunities for our industry.
Mikayel has 20 years experience in the areas of initial public offerings, mergers, acquisitions, divestitures, strategic partnering, and US and international financial reporting. He works primarily with life sciences companies from the development stage to large, multinational, public companies.
Mikayel holds masters degrees in management, marketing and in engineering. Prior to joining PwC, Mikayel, a doctoral candidate in materials science, spent four years conducting scientific research in the field of advanced materials.