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SOME PHARMA FINANCIALS
PROF. DR. WOUTER DE MAESENEIRE
DISCLAIMER
 I am not a pharma/healthcare expert
 But I did quite some work for student in-
company projects or customized trainings for
 Pfizer, J&J (Janssen), Arseus, Capsugel, UCB,
Boehringher-Inghelheim,…
 IRC MFM last year: UCB
 I wrote a case on BigPharma vs Small Biotech
FSA
 I’ll give a broad overview of some of the issues
© Vlerick Business School3
© Vlerick Business School
PROFIT AND LOSS ACCOUNT/INCOME STATEMENT
4
© Vlerick Business School
APPLE: PROFIT AND LOSS ACCOUNT (P&L)
5
© Vlerick Business School
DO YOU KNOW…
6
© Vlerick Business School
AN UNFORESEEN OUTCOME…
7
© Vlerick Business School
LIPITOR
 Peak sales
 Cumulative sales (1996-2012)
8
© Vlerick Business School
PFIZER: PROFIT AND LOSS ACCOUNT (P&L)
9
12
13
14
15
16
17
18
© Vlerick Business School
GALAPAGOS
19
© Vlerick Business School
GALAPAGOS: P&L
20
© Vlerick Business School21
© Vlerick Business School
GALAPAGOS: ASSETS
22
© Vlerick Business School
GALAPAGOS: EQUITY AND LIABILITIES
23
© Vlerick Business School
GALAPAGOS: CASH FLOW STATEMENT
24
© Vlerick Business School
A LOT OF BIG PHARMA & SMALL BIOTECH
DEALS
 M&A, alliances, milestone payments, co-
development, licencsing out,…
 Clear complementarities
25

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Presentation of Wouter De Maeseneire