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The company required benchmarking of its proposed strategy/structure against other research based biopharmaceutical companies that had already achieved a similar therapeutic focus. Particular attention was paid as to how such companies have been valued over time, and to support the board in the development of an implementation strategy for the future corporate structure.

The objectives for the client

• Gain an independent view on the proposed corporate strategy and structure.

• Assess the likely reaction of the financial community to the planned strategic shift prior to implementation.

• Develop an implementation strategy that would maximise the companies long-term revenue generation and value whilst enhancing market perception and short-term valuation.

The programme of work

• Internal meetings with key staff and review of business, development and marketing plans in order to develop an independent view on the company's capabilities, technology platforms, intellectual property, products and their commercial potential.

• An independent programme of desk research and expert interviews to further validate the view of the commercial potential for key strategic products and technologies.

• Selection of appropriate benchmark companies (together with client).

• A combination of further desk research and expert interviews to explore the activities, strengths and weaknesses of the benchmark companies and to review their valuation over time.

• Interviews with financial analysts and other members of the financial community to establish current value drivers and identify those factors that tend to influence market sentiment.

• Strategic workshops with senior members of the management team.