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Recon takes an analytical look behind select developments in healthcare
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- By Maggie Pickard, Allison Cremer, and Jason Brauner
We explore four hypothesized value drivers of platform-based companies and evaluate the actual value achieved 10-15 years out from initial capital raise. We found that discovery platforms showed the highest lead asset success rates, significantly more out-licensing activity than non-platforms, and accounted for nearly all multi-asset approvals within our cohort. All platform types showed increased survivability and more licensing opportunities.
- By Maggie Pickard and Marc Herant
Merck's acquisition of Verona is the latest in a long line of "revenue acquisitions". How have prior mid-size biopharma revenue acquisitions fared? We found that forecasts at the time of deal are often optimistic, with many transactions missing their projected sales trajectories.
- By Marc Herant
The first porcine kidney transplant (in a live recipient)
It’s been a year, and like many, I have been waiting for the details to be published in the NEJM (where else – especially since this was done …
- By Lilian Zhang, David Kaufmann, Jason Brauner, and Phil Berk
Introduction
It has become a truism in the pharmaceutical industry that new product performance is more often divergent from pre-launch forecasts than on target. In fact, less than 24% of major produ…
- By Phil Berk and Marc Herant
It is strategic planning season at many pharma companies. Even more than most years, planning strategies against a robust set of macro-scenarios will be crucial to mid- and long-term success. While hi…
- By Nicholas Buhay and Sarah Dolman
Download a PDF of this paper here.
M&A deals in biopharma often capture headlines for their large valuations, yet these figures rarely reflect the true financial return realized over time, …
- By Marc Herant
Hematopoietic stem cell (HSC) gene therapy for hemophilia
Roctavian and Hemgenix are in-vivo gene therapies where an AAV vector delivers a functional copy of the defective gene to hepatocytes, the phy…
- By Lilian Zhang and Nikhil Bhojwani
For years, digital biomarkers have seemed like a promising way to transform drug clinical trials, yet their adoption journey has been uneven. We’ve watched as the excitement for Proteus's ingestible …
- By Allison Cremer, Nikhil Bhojwani, and Jason Brauner
In February 2025, the FDA gave IND approval to United Therapeutics for the first xenotransplantation clinical trial, which followed a series of high-profile transplants via the compassionate use pathw…