The document discusses strategies for companies to effectively manage investor relations and public relations. It recommends integrating IR and PR to ensure consistent messaging across stakeholders. While sell-side research is declining, relationships with buy-side investors are increasingly important. The document advises establishing these relationships early through frequent updates and access to management. Finally, it stresses creating one unified voice across corporate positioning, conferences, and outreach to achieve communication goals.

1. BURRILL PORTFOLIO CEO MEETING
IR/PR Panel
Donna L. LaVoie
President & CEO
LaVoie Group

2. LaVoie Group
Core Offerings:
• Communications
• Investor Relations
• Public Relations
• Branding
• Recognized as Leading Independent Healthcare PR firm by O’Dwyer’s 2011 (top 30 in US; #11
overall, #2 in MA)
• LaVoie Group is ranked 2375 on the 2011 Inc. 500|5000 of fastest-growing private companies
in America

3. Decline of the Sell Side
• Change in the landscape: Reg FD, “Chinese Wall,” Financial Crisis
• Greenwich Associates 2011 Survey:
– Buy-side investors believe that the value of the service provided by sell-side analysts declined
(2 years)
– Only ¼ of the overall commission pie paid out for research
– Brain drain – shift from sell side to buy side and boutique research firms
– Reliance shifting to mid-sized firms, regional brokers and industry-sector specialists
– Financial crisis affects bulge bracket firms
– Value of access to corporate management has increased
• Wall Street research remains overwhelmingly bullish
– Disproportionate number of “buy” ratings indicate an effort to increase trading volume and
analysts’ fear of alienating management

4. Sell Side vs. Buy Side
• Despite decline in importance, Sell Side still matters
– Opinion that company validation still determined by quantity/quality of coverage
– Sell side are publishing and distributing widely
– Partner for access to the buy side (road shows); priority access still given after earnings and
other announcements
• Establish relationships with the Buy Side early
– Introduction meetings and frequent company updates/news flow pre-IPO
– 12-18 months prior to transaction increases interest in name and ultimately valuation
• What do they want to hear?
– A company’s secrets
• Need a disclosure strategy, messaging documents and spokesperson training
– Need to understand motivation behind questions to provide enough color to satisfy the
request

5. Tools for Success
• The IR and PR functions should not be siloed, but instead integrated
– Allows for consistent messaging and alignment on key initiatives
– Messages are reinforced to all key stakeholders: investors, media, KOLs, payors,
physicians, partners
• All firms regardless of size have their specialty
– Consider your top priorities/goals/objectives in choosing a partner
– Access to talent, know-how, experience and relationships matter

6. Create One Voice
Corporate
Public Relations Investor Relations
Positioning
Conferences
Medical Symposia Quarterly Earnings
Corporate
Public Relations
Clinical Trial Pharma Meetings Positioning Investor Conferences
Recruitment
Sponsorships Material Guidance
NDA Filing
Presentations
Analyst Meetings
Advisory Committee
Marketing Meetings
Approvables Strategic Partnerships
Employee
FDA Approval Communications Acquisitions
Corporate
Public Relations
Product Launch Positioning Community Ties Divestitures

7. Thank you!
DLAVOIE@LAVOIEGROUP.COM
TWITTER @LAVOIEGROUP.COM