7/2/2015
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by Farmantra
Actelion Pharmaceuticals – the R&D investment and its returns
This blog delves into the accounting treatment of R&D expenses that are actually capital expenses to generate returns in multiple periods. We explore the impact of capitalizing R&D on the returns on Actelion and its competitors.
3/17/2015
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by Farmantra
CEO and Chairman of the Board – The Corporate Governance Dilemma
How many times have we seen this designation in the corporate world? Does it ring any bell to you? We discuss in this blog, the importance of corporate governance and its impact on the value of the company..
2/4/2015
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by Farmantra
Almirall, Grifols and Zeltia - How much are you willing to pay for their future growth?
Every company depending on its phase, has two assets - assets in place and growth assets. We evaluate in this blog, how much value they derive from growth assets vs assets in place..
11/13/2014
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by Saurabh Mishra
The art of double counting risk in Valuation
Blame it on the bias during the valuation process, one tends to favor its value depending on which side of the negotiation table he or she is. One of the tools used to push the value up or down is the discount rate/cost of equity ( assuming the project is funded only with equity). Biotech entrepreneurs should know how ....
9/22/2014
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by Saurabh Mishra
Opportunity to Expand Vs Option to Expand - The Valuation Perspective
Does an opportunity to expand into high growth market automatically justify adding premiums to value those investments?
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