图书标签: 生物医药 投资 金融 药物 投行
发表于2024-11-10
Biotechnology Valuation pdf epub mobi txt 电子书 下载 2024
* The first book to provide a simple and practical means of valuing biotech companies
* The book begins with a short history of the biotechnology industry; this is important as although it is about 30 years old, the first company went public only in 1996, so it is possible to plot the course of investment waves and dips
* It examines the European industry and its evolvement, and draws parallels between the similarities and differences between that and the US
* Looks at the various companies which make up the biotech industry (therapeutic; life sciences; and the medical technology company) and gives tools for the investor to properly evaluate them
gloss over on important concepts; disorganized and full of mistakes; seem more like a book thats written overnight; but not a bad one for beginners
评分专业需要
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评分biotech领域的投研书很少 这本写得一些valuation strategy还是不错的,推荐一下
评分主要介绍了医药投资的逻辑和不同于其他产业的估值模型,因为生物医药的初创企业在产品临床一二三期获批上市之前都不可能产生利润和正的现金流,生物医药产业是个长期烧钱为期十年的产业,一个产品从立项到上市也差不多十年为期,据统计开发一个First-in-class的新药需要2~5亿美元的投入,在对一个生物医药公司估值的时候,常常从其药物管线(pipeline)入手,采用rNPV和option的模型,乘以每个阶段性成果的成功率以及考虑药物5~7年会迎来销售峰值,来折现到现在的估值。
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Biotechnology Valuation pdf epub mobi txt 电子书 下载 2024