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European BioPharmaceutical Review

A Tale of Two Countries: Speculating the Fortunes of the UK and US Pharma Markets

Judging by the early signals in the US, the biotech bear market has finally begun to end and an autumn funding window is being predicted. Europe meanwhile, remains in the doldrums and the market pressures have finally resulted in a wave of consolidation involving both private and public companies. Over the next six months, the stage is set for a significant increase in US companies establishing European subsidiaries through merger and acquisition. This article reviews recent significant events in the UK and US markets and speculates on what the rest of 2003 might hold for the sector.

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By Dr Stephen Parker, Director of sp2 Consulting Limited

Stephen Parker is a Strategic Consultant specialising in the health care sector, and is currently a Director at sp2 Consulting Limited. He was previously Chief Financial Officer of Oxford GlycoSciences Plc. Prior to that he was Head of the Health Care Corporate Finance team at Apax Partners & Co. He was an Executive Director in the health care sector team at SBC Warburg Dillon Read, an Assistant Director with Baring Brothers and a Management Consultant with PA Consulting Group. He has experience within the biotechnology sector through working with Unipath and other biotech applications within Unilever. Stephen has extensive experience in health care financing and mergers, acquisitions and disposals and is a member of the Advisory Board of the C21 conference. He holds a DPhil from Oxford University and an MBA from City University Business School.

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Dr Stephen Parker
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