In 1993, "la Caisse de dépôt et placement du Québec" invested 5M in Axcan Pharma (now Aptalis) for a 25% ownership. In 2008, a US private equity fund acquired all shares of Axcan for 1.3B, or 65 times its value 15 years earlier.
The document discusses carving out Alcon from Nestle to increase company value. It finds that carving out Alcon and valuing it separately from Nestle's food business, using industry multiples, increases Nestle's total enterprise value by approximately 7% to over $104 million compared to its current $97500 million value. The best option for listing Alcon is the US market, which would provide high liquidity, regulation, and attract more pharmaceutical investors, despite some costs of restructuring. Carving out and listing Alcon in the US is recommended to realize increased value.
Global Recruiters of Huntsville is a recruiting firm with 190 offices across North America and Europe. They specialize in identifying and placing top executive, managerial, technical, and professional talent for clients. The firm uses advanced technology and a personalized approach to clarify clients' needs, generate qualified candidates, and ensure an optimal match between jobs and skills. Their mobile apps allow clients and candidates to easily communicate and manage the hiring process from any device. The Huntsville office focuses on placing medical, biotech, engineering, and sales professionals, and is staffed by experienced recruiters with expertise in various industries.
Heritage is defined as the material and immaterial patrimony that contributes to a people's culture and identity. It includes cultural items like castles, churches, homes, and parks, as well as intangible aspects such as literature, music, language, and customs. Portugal's cultural heritage encompasses traditions like Fado singing and costumes, as well as crafts, gastronomy, architectural sites, archaeological sites, and vestiges of natural and industrial history. This document was prepared by students in the 7th grade of the "Foreign Mirrors Club" at António Correia de Oliveira secondary school in Esposende, Portugal in October 2012.
Persian architecture has a history spanning over 5000 years, featuring buildings from simple huts to grand palaces. To store ice and food in the summer, ancient Persians developed underground structures called yakhchāls between 400 BC-present. Yakhchāls came in different designs depending on location - domed roof fridges in central deserts, underground fridges in the north/northwest using stone/brick, and pool fridges in the south using pools covered with brushwood. The structures demonstrated ingenious passive cooling techniques in harmony with the natural environment.
The document discusses carving out Alcon from Nestle to increase company value. It finds that carving out Alcon and valuing it separately from Nestle's food business, using industry multiples, increases Nestle's total enterprise value by approximately 7% to over $104 million compared to its current $97500 million value. The best option for listing Alcon is the US market, which would provide high liquidity, regulation, and attract more pharmaceutical investors, despite some costs of restructuring. Carving out and listing Alcon in the US is recommended to realize increased value.
Global Recruiters of Huntsville is a recruiting firm with 190 offices across North America and Europe. They specialize in identifying and placing top executive, managerial, technical, and professional talent for clients. The firm uses advanced technology and a personalized approach to clarify clients' needs, generate qualified candidates, and ensure an optimal match between jobs and skills. Their mobile apps allow clients and candidates to easily communicate and manage the hiring process from any device. The Huntsville office focuses on placing medical, biotech, engineering, and sales professionals, and is staffed by experienced recruiters with expertise in various industries.
Heritage is defined as the material and immaterial patrimony that contributes to a people's culture and identity. It includes cultural items like castles, churches, homes, and parks, as well as intangible aspects such as literature, music, language, and customs. Portugal's cultural heritage encompasses traditions like Fado singing and costumes, as well as crafts, gastronomy, architectural sites, archaeological sites, and vestiges of natural and industrial history. This document was prepared by students in the 7th grade of the "Foreign Mirrors Club" at António Correia de Oliveira secondary school in Esposende, Portugal in October 2012.
Persian architecture has a history spanning over 5000 years, featuring buildings from simple huts to grand palaces. To store ice and food in the summer, ancient Persians developed underground structures called yakhchāls between 400 BC-present. Yakhchāls came in different designs depending on location - domed roof fridges in central deserts, underground fridges in the north/northwest using stone/brick, and pool fridges in the south using pools covered with brushwood. The structures demonstrated ingenious passive cooling techniques in harmony with the natural environment.
According to national newspapers in Portugal, a third of the country's material heritage is at risk of deterioration or collapse due to a lack of maintenance and poor-quality previous interventions. Some structures only require maintenance while others suffered damage to their integrity and surroundings. Additionally, a lack of funds has prevented interventions to address storm damage and vandalism, further degrading heritage sites. Portugal's intangible cultural heritage, such as rituals, beliefs, and legends, also face issues with preservation, documentation, and continuation and may disappear without proper records and collections.
Biometric "Fingerprint Access" Security for Automotive... Commercial Trucking...Mark Proctor
This presentation introduces Auto Secure USA's biometric fingerprint security system for automobiles. It claims the system can incrementally increase profits across dealership departments by offering customers state-of-the-art security and vehicle monitoring services. The system includes a three-year warranty, dealer installation, and 24/7 support. Auto Secure USA is looking to expand its strategic partnerships and business internationally.
This document proposes a solution called "flow auditing" to improve organizational performance and accountability while giving workers more flexibility. It suggests shifting from rigid hierarchical controls to building an awareness of the organization's mission throughout, and using external metrics rather than internal constraints to monitor progress. The benefits outlined include improved communication, feedback, responsiveness, and a more dynamic and flexible process.
Anesthetic management of elderly patients requires special considerations. The elderly population is growing rapidly. Preoperative testing may not be needed for low or intermediate risk surgery if the patient is followed by their primary care physician and has no concerning findings on history and physical. Anesthetic drugs have longer durations of action in the elderly and some require lower doses for induction to avoid hypotension. Emergence from anesthesia takes longer in the elderly and regional anesthesia may be preferable to general anesthesia when possible. Careful titration of anesthetic drugs is important due to age-related changes in pharmacokinetics and pharmacodynamics.
This is a PowerPoint presentation that explores some of my work over the years. Please do connect with me via email if you have any questions. Look forward to connect with you!
The document discusses performance appraisals and provides guidance on keeping the process effective. It outlines the objectives of the performance cycle as communicating expectations, providing feedback, setting goals, and reviewing progress. It also discusses factors to evaluate like productivity, compliance, quality of work, competencies, and training needs. The performance appraisal process involves self-evaluations, manager evaluations, and a composite evaluation. Finally, it provides tips for writing SMART goals that are specific, measurable, achievable, results-oriented, and time-based.
This document provides an overview of conflict theory and resolution techniques. It discusses the nature of conflict and how it can be both productive and destructive. Five conflict styles are presented: competing, accommodating, avoiding, compromising, and collaborating. A model for conflict resolution is also outlined, including explaining issues neutrally, obtaining feedback, agreeing on the core issue, exploring solutions, and establishing action steps. The document provides guidance on addressing common challenges like complaining, distractions, and denial/justification/attacks during conflict resolution.
Here are three scenarios from your inbox and my recommended responses as a supervisor:
1. You receive an email from an employee complaining about inappropriate jokes and comments being made by a coworker.
Recommendation: Thank the employee for bringing this to your attention. Inform them you take these issues seriously and will be contacting HR immediately to initiate a confidential investigation. Reassure them retaliation will not be tolerated.
2. During your weekly check-in, an employee confides they are uncomfortable working alone with their manager due to the manager's flirtatious behavior.
Recommendation: Thank the employee for their trust. Inform them you will be notifying HR right away to address the issue and make appropriate changes to ensure a
Novartis acquired Alcon for $28 billion to strengthen its innovation power and diversify its product range by combining their expertise in pharmaceuticals and vision care, which together would cover over 70% of the global vision sector. Novartis financed the majority of the deal through a mix of bonds, loans, and selling shares, with the remaining $14 billion to come from its strong cash flow. The stock prices of both companies increased modestly following the announcement and completion of the friendly takeover deal.
Timothy M. Ruane has over 30 years of experience in the pharmaceutical industry, including leadership roles at several companies. He has experience launching new drugs, negotiating mergers and acquisitions, raising financing, and turning around struggling companies. His background includes commercial operations, business development, and general management. Currently he is the CEO of InSite Vision, where he has led the approval and commercialization of new ophthalmology drugs.
This 2005 annual report discusses Baxter's financial performance and innovations. It highlights Baxter's leadership in developing therapies like kidney dialysis and blood component therapy over its 75-year history. In 2005, Baxter introduced many new products, saw strong sales of products like ADVATE for hemophilia, and expanded its contract manufacturing facilities. The report discusses Baxter's strategies for continued growth, including expanding in developing markets and pursuing acquisitions and alliances.
Eco-Stim Energy Solutions (“ESES”, “Eco-Stim”, or “Company”) is an environmentally focused oilfield service and technology company providing proprietary field management technologies, well stimulation, and completion services to oil and gas producers drilling in the rapidly expanding international unconventional shale markets. Eco-Stim’s proprietary methodology and technology offers the potential to decrease the number of stages stimulated in shale plays through a unique process that predicts high-probability production zones while confirming those production zones using the latest generation down-hole diagnostic tools. In addition, Eco-Stim offers its clients completion techniques that can dramatically reduce horsepower requirements, emissions, surface footprint, and water usage. Eco-Stim seeks to deliver well completion services with better technology, better ecology, and significantly improved economics for unconventional oil and gas producers worldwide.
Qivana’s Qore™ System is a practical health regimen created with world-class natural products. The system follows a very simple 3-step philosophy: Stabilize, Vitalize, and Optimize.
The document outlines Alpharma's plans to accelerate growth across its three business segments - branded pharmaceuticals, active pharmaceutical ingredients (API), and animal health. For animal health, growth initiatives include expanding market share in existing medicated feed additives and water solubles through new product indications and geographic expansion. New product launches are also planned to enter new market segments like companion animals and dairy cattle with a potential revenue opportunity of over $70 million. For API, growth will come from expanding and improving current business, introducing new products, and forward integrating. Overall, Alpharma believes its targeted organic growth opportunities across segments represent over $700 million in potential revenues.
This corporate presentation discusses the company's plans to capitalize on emerging market developments and increasing demand for unconventional oil and gas solutions in Argentina. It highlights the country's large shale resources, ongoing investments by major oil companies, and an undersupplied market that leaves room for the company to expand its operations across multiple market segments. The presentation also outlines the company's leadership team and track record of success building profitable energy service platforms.
EcoStim provides well stimulation, coiled tubing, and reservoir management services using proprietary technologies. It has positioned 50,000 HHP of equipment in Argentina ahead of increasing shale drilling activity. EcoStim's growth opportunity is attractive due to supply constraints in Argentina and barriers to entry that limit competitors from rapidly expanding capacity. The company has a strong customer base of major oil and gas producers operating in Argentina and is bidding on several new contracts worth over $50 million as customers finalize 2017 budgets. Argentina's shale development is following a similar path as U.S. plays and is expected to rapidly increase horizontal drilling in coming years, providing significant growth potential for EcoStim.
This document provides a summary of Michael Kimak's career experience including 13 years in sales leadership in the medical and government sectors. It outlines his roles at Pfizer as a Vaccine Account Manager from 2010-2012 and at Wyeth as a Specialty Account Manager from 1999-2010. It also briefly mentions prior roles as a District Manager and Territory Manager/Representative. The summary highlights his success launching new products, exceeding sales goals, and developing strategic initiatives and collaborations with key stakeholders.
The document summarizes the business opportunity and products offered by Max International, a network marketing company focused on the wellness industry. Key points include that wellness is a growing $250 million per day market, Max International is positioned for growth, and the company offers exclusive, patented wellness products backed by scientific research. The compensation plan allows associates to earn retail profits, commissions, bonuses, and matching checks by building two product sales teams.
This document summarizes the 2015 annual meeting of Valeant Pharmaceuticals International, Inc. held on May 19, 2015 in Laval, Quebec, Canada. It introduces the board of directors and executive management in attendance. It reports that all proposed resolutions, including electing directors and ratifying the auditor, received over 90% shareholder approval. The document provides an overview of Valeant's business model, product portfolio, acquisition and R&D strategies, and highlights key pipeline and launch products. It concludes by emphasizing Valeant's track record of strong financial performance and shareholder returns.
EcoStim is an emerging growth, technology-driven oilfield services company providing well stimulation, coiled tubing, and reservoir management services. It has developed proprietary technologies that reduce environmental impact and improve economic performance. The company is capitalizing on emerging market opportunities in Argentina, which has the 3rd largest shale gas reserves in the world. Argentina currently imports over $6 billion per year of oil and gas, and developing its shale resources could help reduce these imports and bolster its dollar reserves. EcoStim is well positioned for growth as Argentina's new pro-business government has made policy changes to encourage more oil and gas development.
Peter Winkley is a seasoned C-Suite executive with over 30 years of experience in financial reporting, governance, treasury, taxation, risk management, and M&A for large public companies. He is currently the Vice President of Finance and CFO at Algoma Central Corporation, where he leads a team of 30 staff and is responsible for financial discipline, strategy implementation, and a $400M refinancing. Previously he held senior finance roles at Therapure Biopharmaceutical and MDS Inc, where he established financial processes and led multi-million dollar acquisitions and insurance programs. He has extensive public company experience across industries in Canada and internationally.
According to national newspapers in Portugal, a third of the country's material heritage is at risk of deterioration or collapse due to a lack of maintenance and poor-quality previous interventions. Some structures only require maintenance while others suffered damage to their integrity and surroundings. Additionally, a lack of funds has prevented interventions to address storm damage and vandalism, further degrading heritage sites. Portugal's intangible cultural heritage, such as rituals, beliefs, and legends, also face issues with preservation, documentation, and continuation and may disappear without proper records and collections.
Biometric "Fingerprint Access" Security for Automotive... Commercial Trucking...Mark Proctor
This presentation introduces Auto Secure USA's biometric fingerprint security system for automobiles. It claims the system can incrementally increase profits across dealership departments by offering customers state-of-the-art security and vehicle monitoring services. The system includes a three-year warranty, dealer installation, and 24/7 support. Auto Secure USA is looking to expand its strategic partnerships and business internationally.
This document proposes a solution called "flow auditing" to improve organizational performance and accountability while giving workers more flexibility. It suggests shifting from rigid hierarchical controls to building an awareness of the organization's mission throughout, and using external metrics rather than internal constraints to monitor progress. The benefits outlined include improved communication, feedback, responsiveness, and a more dynamic and flexible process.
Anesthetic management of elderly patients requires special considerations. The elderly population is growing rapidly. Preoperative testing may not be needed for low or intermediate risk surgery if the patient is followed by their primary care physician and has no concerning findings on history and physical. Anesthetic drugs have longer durations of action in the elderly and some require lower doses for induction to avoid hypotension. Emergence from anesthesia takes longer in the elderly and regional anesthesia may be preferable to general anesthesia when possible. Careful titration of anesthetic drugs is important due to age-related changes in pharmacokinetics and pharmacodynamics.
This is a PowerPoint presentation that explores some of my work over the years. Please do connect with me via email if you have any questions. Look forward to connect with you!
The document discusses performance appraisals and provides guidance on keeping the process effective. It outlines the objectives of the performance cycle as communicating expectations, providing feedback, setting goals, and reviewing progress. It also discusses factors to evaluate like productivity, compliance, quality of work, competencies, and training needs. The performance appraisal process involves self-evaluations, manager evaluations, and a composite evaluation. Finally, it provides tips for writing SMART goals that are specific, measurable, achievable, results-oriented, and time-based.
This document provides an overview of conflict theory and resolution techniques. It discusses the nature of conflict and how it can be both productive and destructive. Five conflict styles are presented: competing, accommodating, avoiding, compromising, and collaborating. A model for conflict resolution is also outlined, including explaining issues neutrally, obtaining feedback, agreeing on the core issue, exploring solutions, and establishing action steps. The document provides guidance on addressing common challenges like complaining, distractions, and denial/justification/attacks during conflict resolution.
Here are three scenarios from your inbox and my recommended responses as a supervisor:
1. You receive an email from an employee complaining about inappropriate jokes and comments being made by a coworker.
Recommendation: Thank the employee for bringing this to your attention. Inform them you take these issues seriously and will be contacting HR immediately to initiate a confidential investigation. Reassure them retaliation will not be tolerated.
2. During your weekly check-in, an employee confides they are uncomfortable working alone with their manager due to the manager's flirtatious behavior.
Recommendation: Thank the employee for their trust. Inform them you will be notifying HR right away to address the issue and make appropriate changes to ensure a
Novartis acquired Alcon for $28 billion to strengthen its innovation power and diversify its product range by combining their expertise in pharmaceuticals and vision care, which together would cover over 70% of the global vision sector. Novartis financed the majority of the deal through a mix of bonds, loans, and selling shares, with the remaining $14 billion to come from its strong cash flow. The stock prices of both companies increased modestly following the announcement and completion of the friendly takeover deal.
Timothy M. Ruane has over 30 years of experience in the pharmaceutical industry, including leadership roles at several companies. He has experience launching new drugs, negotiating mergers and acquisitions, raising financing, and turning around struggling companies. His background includes commercial operations, business development, and general management. Currently he is the CEO of InSite Vision, where he has led the approval and commercialization of new ophthalmology drugs.
This 2005 annual report discusses Baxter's financial performance and innovations. It highlights Baxter's leadership in developing therapies like kidney dialysis and blood component therapy over its 75-year history. In 2005, Baxter introduced many new products, saw strong sales of products like ADVATE for hemophilia, and expanded its contract manufacturing facilities. The report discusses Baxter's strategies for continued growth, including expanding in developing markets and pursuing acquisitions and alliances.
Eco-Stim Energy Solutions (“ESES”, “Eco-Stim”, or “Company”) is an environmentally focused oilfield service and technology company providing proprietary field management technologies, well stimulation, and completion services to oil and gas producers drilling in the rapidly expanding international unconventional shale markets. Eco-Stim’s proprietary methodology and technology offers the potential to decrease the number of stages stimulated in shale plays through a unique process that predicts high-probability production zones while confirming those production zones using the latest generation down-hole diagnostic tools. In addition, Eco-Stim offers its clients completion techniques that can dramatically reduce horsepower requirements, emissions, surface footprint, and water usage. Eco-Stim seeks to deliver well completion services with better technology, better ecology, and significantly improved economics for unconventional oil and gas producers worldwide.
Qivana’s Qore™ System is a practical health regimen created with world-class natural products. The system follows a very simple 3-step philosophy: Stabilize, Vitalize, and Optimize.
The document outlines Alpharma's plans to accelerate growth across its three business segments - branded pharmaceuticals, active pharmaceutical ingredients (API), and animal health. For animal health, growth initiatives include expanding market share in existing medicated feed additives and water solubles through new product indications and geographic expansion. New product launches are also planned to enter new market segments like companion animals and dairy cattle with a potential revenue opportunity of over $70 million. For API, growth will come from expanding and improving current business, introducing new products, and forward integrating. Overall, Alpharma believes its targeted organic growth opportunities across segments represent over $700 million in potential revenues.
This corporate presentation discusses the company's plans to capitalize on emerging market developments and increasing demand for unconventional oil and gas solutions in Argentina. It highlights the country's large shale resources, ongoing investments by major oil companies, and an undersupplied market that leaves room for the company to expand its operations across multiple market segments. The presentation also outlines the company's leadership team and track record of success building profitable energy service platforms.
EcoStim provides well stimulation, coiled tubing, and reservoir management services using proprietary technologies. It has positioned 50,000 HHP of equipment in Argentina ahead of increasing shale drilling activity. EcoStim's growth opportunity is attractive due to supply constraints in Argentina and barriers to entry that limit competitors from rapidly expanding capacity. The company has a strong customer base of major oil and gas producers operating in Argentina and is bidding on several new contracts worth over $50 million as customers finalize 2017 budgets. Argentina's shale development is following a similar path as U.S. plays and is expected to rapidly increase horizontal drilling in coming years, providing significant growth potential for EcoStim.
This document provides a summary of Michael Kimak's career experience including 13 years in sales leadership in the medical and government sectors. It outlines his roles at Pfizer as a Vaccine Account Manager from 2010-2012 and at Wyeth as a Specialty Account Manager from 1999-2010. It also briefly mentions prior roles as a District Manager and Territory Manager/Representative. The summary highlights his success launching new products, exceeding sales goals, and developing strategic initiatives and collaborations with key stakeholders.
The document summarizes the business opportunity and products offered by Max International, a network marketing company focused on the wellness industry. Key points include that wellness is a growing $250 million per day market, Max International is positioned for growth, and the company offers exclusive, patented wellness products backed by scientific research. The compensation plan allows associates to earn retail profits, commissions, bonuses, and matching checks by building two product sales teams.
This document summarizes the 2015 annual meeting of Valeant Pharmaceuticals International, Inc. held on May 19, 2015 in Laval, Quebec, Canada. It introduces the board of directors and executive management in attendance. It reports that all proposed resolutions, including electing directors and ratifying the auditor, received over 90% shareholder approval. The document provides an overview of Valeant's business model, product portfolio, acquisition and R&D strategies, and highlights key pipeline and launch products. It concludes by emphasizing Valeant's track record of strong financial performance and shareholder returns.
EcoStim is an emerging growth, technology-driven oilfield services company providing well stimulation, coiled tubing, and reservoir management services. It has developed proprietary technologies that reduce environmental impact and improve economic performance. The company is capitalizing on emerging market opportunities in Argentina, which has the 3rd largest shale gas reserves in the world. Argentina currently imports over $6 billion per year of oil and gas, and developing its shale resources could help reduce these imports and bolster its dollar reserves. EcoStim is well positioned for growth as Argentina's new pro-business government has made policy changes to encourage more oil and gas development.
Peter Winkley is a seasoned C-Suite executive with over 30 years of experience in financial reporting, governance, treasury, taxation, risk management, and M&A for large public companies. He is currently the Vice President of Finance and CFO at Algoma Central Corporation, where he leads a team of 30 staff and is responsible for financial discipline, strategy implementation, and a $400M refinancing. Previously he held senior finance roles at Therapure Biopharmaceutical and MDS Inc, where he established financial processes and led multi-million dollar acquisitions and insurance programs. He has extensive public company experience across industries in Canada and internationally.
Anthony J. Parkinson is a transformational senior business executive with global experience leading large organizations across multiple industries. He has extensive experience as a CEO, president, director, and in new venture management and turnarounds. Parkinson has strong leadership, communication, and financial skills. He has led organizations in finance, automotive, toy, beauty, solar, marine, health/natural foods, and non-profit industries.
The document is Boston Scientific's 2005 Annual Report. It discusses the company's strong financial performance in 2005, with total revenue reaching $6.28 billion, a 12% increase over 2004. It summarizes key accomplishments across its business units, including maintaining the leading market share for drug-eluting stents. It also addresses the FDA's letter regarding quality compliance systems and the company's response to comprehensively address issues. Looking ahead, the report discusses strategic priorities like accelerating base business growth and expanding drug-eluting stent market share.
The document is Boston Scientific's 2005 Annual Report. It discusses the company's strong financial performance in 2005, with total revenue reaching $6.28 billion, a 12% increase over 2004. It summarizes key accomplishments across its business units, including maintaining the leading market share for drug-eluting stents. It also addresses the FDA's letter regarding quality compliance systems and the company's response to comprehensively address issues. Looking ahead, it discusses strategic priorities like accelerating base business growth and expanding drug-eluting stent market share through new products.
The document is Boston Scientific's 2005 Annual Report. It discusses the company's strong financial performance in 2005, with total revenue reaching $6.28 billion, a 12% increase over 2004. It summarizes key accomplishments across its business units, including maintaining the leading market share for drug-eluting stents. It also addresses the FDA's letter regarding quality compliance systems and the company's response to comprehensively address issues. Looking ahead, the report discusses strategic priorities like accelerating base business growth and expanding drug-eluting stent market share.
Fisher Scientific is a leading provider of products and services to the scientific community. In 2005, Fisher had revenues of $5.6 billion and approximately 19,500 employees worldwide. Fisher facilitates scientific discovery by supplying researchers and clinicians with the tools they need to enhance and prolong life. Key accomplishments in 2005 included strategic acquisitions that expanded Fisher's offerings in areas like biopharma services and life sciences, as well as operational initiatives that increased cost savings and production capabilities. Fisher is well-positioned for continued growth by meeting the evolving needs of customers in research, healthcare, and drug development.
Fisher Scientific is a leading provider of products and services to scientific researchers around the world. In 2005, Fisher had revenues of $5.6 billion and approximately 19,500 employees worldwide. The company facilitates scientific discovery by supplying researchers with over 600,000 products and services. Fisher aims to make its 350,000 customers more efficient and effective through its integrated supply chain and sales/marketing capabilities.
The document provides an overview of financial statement analysis and GlaxoSmithKline (GSK). It discusses key accounting concepts like GAAP and IFRS. It then summarizes GSK's history, operations in pharmaceuticals and consumer healthcare, and financial performance from 2007-2011 with revenues over £22 billion. Ratios are calculated to analyze GSK's viability, stability, profitability, and evaluate its long-term strategic position. Financial ratio analysis helps standardize comparisons of GSK's performance over time and against industry benchmarks.
Starting a business is like embarking on an unpredictable adventure. It’s a journey filled with highs and lows, victories and defeats. But what if I told you that those setbacks and failures could be the very stepping stones that lead you to fortune? Let’s explore how resilience, adaptability, and strategic thinking can transform adversity into opportunity.
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....Lacey Max
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
in the American Kennel Club's annual survey of the country's most
popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
color choices.”
Best practices for project execution and deliveryCLIVE MINCHIN
A select set of project management best practices to keep your project on-track, on-cost and aligned to scope. Many firms have don't have the necessary skills, diligence, methods and oversight of their projects; this leads to slippage, higher costs and longer timeframes. Often firms have a history of projects that simply failed to move the needle. These best practices will help your firm avoid these pitfalls but they require fortitude to apply.
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
SATTA MATKA SATTA FAST RESULT KALYAN TOP MATKA RESULT KALYAN SATTA MATKA FAST RESULT MILAN RATAN RAJDHANI MAIN BAZAR MATKA FAST TIPS RESULT MATKA CHART JODI CHART PANEL CHART FREE FIX GAME SATTAMATKA ! MATKA MOBI SATTA 143 spboss.in TOP NO1 RESULT FULL RATE MATKA ONLINE GAME PLAY BY APP SPBOSS
Digital Marketing with a Focus on Sustainabilitysssourabhsharma
Digital Marketing best practices including influencer marketing, content creators, and omnichannel marketing for Sustainable Brands at the Sustainable Cosmetics Summit 2024 in New York
𝐔𝐧𝐯𝐞𝐢𝐥 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐄𝐧𝐞𝐫𝐠𝐲 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐰𝐢𝐭𝐡 𝐍𝐄𝐖𝐍𝐓𝐈𝐃𝐄’𝐬 𝐋𝐚𝐭𝐞𝐬𝐭 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬
Explore the details in our newly released product manual, which showcases NEWNTIDE's advanced heat pump technologies. Delve into our energy-efficient and eco-friendly solutions tailored for diverse global markets.
Profiles of Iconic Fashion Personalities.pdfTTop Threads
The fashion industry is dynamic and ever-changing, continuously sculpted by trailblazing visionaries who challenge norms and redefine beauty. This document delves into the profiles of some of the most iconic fashion personalities whose impact has left a lasting impression on the industry. From timeless designers to modern-day influencers, each individual has uniquely woven their thread into the rich fabric of fashion history, contributing to its ongoing evolution.
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
Discover innovative uses of Revit in urban planning and design, enhancing city landscapes with advanced architectural solutions. Understand how architectural firms are using Revit to transform how processes and outcomes within urban planning and design fields look. They are supplementing work and putting in value through speed and imagination that the architects and planners are placing into composing progressive urban areas that are not only colorful but also pragmatic.
1. The Axcan Story
1993 to 2008
Any strategy?
HEC Montréal
cours MNGT 343009A groupe A01 H-2011
11.01.25
2. Mr. Jean Vezina
Consultant, former CFO of Axcan Pharma Inc.
• For 15 years, Mr. Vézina was responsible for finances at Axcan Pharma Inc.
(http://www.axcan.com), a Canadian company based in Mont-Saint-Hilaire, Québec. Initially
hired as director of finance, he became Vice-president of finance and Chief Financial Officer
in 1995 when Axcan became public. In 1993, Axcan was a private company selling exclusively
in Canada and worth approximately 20M CAD. Axcan acquired numerous products and
companies to become multi-national. In 2008, TPG (http://www.tpg.com), a US private
equity firm, bought all outstanding shares of Axcan for 1.3B USD. For its last fiscal year as a
public company, revenues for Axcan amounted to 349M USD, of which 73% originated from
the United States, 16% from Europe and 11% from Canada.
• As a senior-level consultant, in 2009 Mr. Vézina contributed to the completion of a reverse
takeover transaction between Xebec Adsorption Inc., a renewable energy solutions company
located in Blainville (http://www.xebecinc.com), and QuestAir Technologies Inc. in Vancouver.
He also facilitated a financing for Xebec Adsorption Inc. initially announced at 5.0M CAD and
increased to 6.4M CAD, closed on November 25, 2009.
• Mr. Vézina is currently consulting in financing for several public and private companies in
North America.
• Mr. Vézina holds a Bachelor degree in Accounting from l’Université de Sherbrooke and is a
member of the Quebec Order of Certified General Accountants (CGA). In 2004, he
completed the Executive Development Course and Advanced Management Training at McGill
International Executive Institute in Montreal.
The Axcan Story 2
3. Mission and Vision
Source: www.Axcan.com, Company Profile >
• Mission
– To improve the quality of care and health of patients
suffering from gastrointestinal diseases and disorders by
providing effective therapies for patients and specialized
caregivers.
• Vision
– To become the reference gastrointestinal specialty
pharmaceutical Company.
The Axcan Story 3
4. From 1993 to 2008
• 400 M+ raised in financings
• 500 M+ invested in acquisitions:
– 74% products
– 26% companies
• From Canadian to multi national:
– Revenus for FY07:
• 73% US
• 16% Europe
• 11% Canada
• From 20 M to 1.3 B in value, or 65x in 15 years
The Axcan Story 4
5. Financial performance
in millions of USD
FY Revenue Income $ Income %
1999 38 1.4 4%
2000 87 6.7 8%
2001 104 11.8 11%
2002 132 21.2 16%
2003 179 19.9 (Note) 11%
2004 244 48.7 20%
2005 251 26.4 11%
2006 292 39.1 13%
2007 349 71.5 20%
The Axcan Story 5
6. Financial performance
Note
• 2003:
– Net Income of 19.9 millions USD includes:
• 12.0 millions of Acquired in-process research following
the licensing of ITAX from Abbott Laboratories in
September 2003 and
• 3.7 millions of Takeover-bid expenses following the
unsuccessful cash tender offer to acquire Salix
Pharmaceuticals in April 2003
The Axcan Story 6
7. 1993 – 1996
Selected Transactions
Source: www.Axcan.com, Company Profile > History >
1993
• Private placement ($5 million) involving the Caisse de Dépôt et Placement du
Québec, which acquires 25% of the Company's share capital.
1995
• Initial Public Offering: Issue of four million common shares at CDN $6.00 each. The
shares are traded on the Montreal and Toronto Stock Exchanges, under the symbol
"AXP".
1996
• Axcan announces the creation of a joint venture with Schwarz Pharma US, under
the name Axcan Schwarz LLC, which will distribute URSO in the United States, once
approved by the FDA. Among the highlights of the agreement, Schwarz will
acquire 750,000 Axcan shares at CDN $15.50 each.
The Axcan Story 7
8. 1997 – 1998
Selected Transactions
Source: www.Axcan.com, Company Profile > History >
1997
• Second Public Offering with the issue of $17,356,950 in special warrants
exchangeable for common shares.
• Acquisition from American Home Products Corporation of the U.S. rights
of VIOKASE®, an oral pancrelipase formulation.
• Private placement with Mutual Asset Management which has subscribed
450,000 shares at a price of $12.97 for a total of $5,836,500.
1998
• Closing of the sale of the assets of Biopharm Laboratories Inc. to Warnex
Pharma Inc.
The Axcan Story 8
9. 1999
Selected Transactions
Source: www.Axcan.com, Company Profile > History >
– Axcan sells Protectaid subsidiary and acquires full ownership of
Helicobacter pylori single capsule patent.
– Axcan acquires Scandipharm. Axcan becomes the first Canadian-based
pharmaceutical company with its own US national sales force.
– Axcan purchases Schwarz Pharma Inc.'s 50% membership interest in
Axcan Schwarz LLC, created in January 1997 for the purpose of
marketing 250 mg tablets of URSO in the United States. With its sales
force in the US, Axcan can now successfully market URSO 250 mg
independently in the United States.
– Issuance of 7,650,000 common shares providing gross proceeds of
$45.9 million. Net proceeds of this offering allow Axcan to purchase
the minority equity interest of Scandipharm Inc., held by Sofinov.
The Axcan Story 9
10. 2000
Selected Transactions
Source: www.Axcan.com, Company Profile > History >
– Signature of a new agreement with Eurand International S.p.A.
headquartered in Milan, Italy which grants Axcan the right to market a
new generation of the ULTRASE® pancrelipase minitablets.
– Sale of Axcan's 50% equity interest in Althin Biopharm Inc., a
company active in the field of hemodialysis… This transaction allows
Axcan to focus on its core business: the development and marketing
of gastrointestinal drug products.
– Axcan begins trading on the NASDAQ National Market under the
ticker symbol "AXCA", following completion of a US $40.1 million
financing in the United States. The offering is placed principally with
three selected US subscribers…
– Selection of Mr. Léon F. Gosselin, President and Chief Executive
Officer, as Quebec Entrepreneur of the Year in the Healthcare/Life
Sciences field in the privately sponsored Entrepreneur of the Year
Awards program.
The Axcan Story 10
11. 2001 – 2002
Selected Transactions
Source: www.Axcan.com, Company Profile > History >
2001
• Launch of CANASA® mesalamine (5-ASA) suppositories in the United States for
the treatment of active ulcerative proctitis.
• Completion of a CDN $51 million bought-deal.
2002
• Axcan raises US $66.1 million through the issuance of 5,750,000 common shares
at US $11.50.
• Acquisition of Laboratoire du Lactéol du Docteur Boucard in France for US $12.6
million. Lactéol specializes in the manufacturing and distribution of lyophilized
powder and capsules containing a specific Lactobacillus property strain for the
treatment of diarrhea.
• Acquisition of worldwide rights to PANZYTRAT enzyme product line from Abbott
Laboratories.
The Axcan Story 11
12. 2003 – 2004
Selected Transactions
Source: www.Axcan.com, Company Profile > History >
2003
• Acquisition of DELURSAN (Ursodiol tablets) from Aventis, for France.
• Preparations for closing of a US $ 125 million convertible subordinates
notes offering
• Acquisition of a group of gastrointestinal products from Aventis
2004
• Inauguration of new CAN $15 million expansion of headquarters in Mont-
St-Hilaire
The Axcan Story 12
13. 2005 – 2008
Selected Transactions
Source: www.Axcan.com, Company Profile > History >
2005
• Frank Verwiel named Axcan president and chief executive officer - Léon
Gosselin to remain chairman of the board
2008
• Axcan announced the completion of the transaction in which of all of its
common shares have been acquired by an affiliate of TPG Capital. Axcan
common stock ceased trading on the NASDAQ Global Market and on the
Toronto Stock Exchange at market close on February 25, 2008.
The Axcan Story 13
14. Q & A
1 of 4
• To what extent was the company's strategy to become a leader in gastroenterology
planned in advance?
– Evolved over time: from 3 companies to IPO & after
• Was there a single unifying corporate strategy (e.g., growth through acquisitions)?
BTW, why not organic growth?
– Acquisitions were complementing organic growth
• What was the role of finance function in the implementation of the corporate
strategy?
– To execute; execution builds credibility
• Was Finance function just supporting other functions (i.e. providing $$ for
marketing or product acquisitions) or it was trying to create value in some other
ways?
– Delivering on announcements: “Under promise, over deliver”
The Axcan Story 14
15. Q & A
2 of 4
• Within the finance function, how much freedom did you have to improvise or to
come up with your own initiatives?
– I had to make sure the CEO looked good; my team was doing same for me
• When you look back now, it is easy to see what was important, what were good
strategic moves or bad decisions, was it clear when you lived through these
events, when the management team were making their decisions?
– Most of the time, some had a pretty good idea of the potential outcome
• What was the role of stock analysts and bankers in shaping Axcan's strategy?
– Some analysts gave us key advice on street expectations
• What would have happened if Axcan did not listen to them? Did you have options?
Was their advice useful?
– Probably lower stock price; less value for shareholders
The Axcan Story 15
16. Q & A
3 of 4
• Why did the company decide to go public in 1995? Could you still raise more debt
or private equity?
– Triple the money for same dilution
• Are there special strategies for doing a successful IPO?
– Credible story, TIMING and being able to deliver!
• What kind of support do you need from the rest of the organization to make it
successful?
– Unlimited, all must work together towards delivering on announcements
• Why did you do private placements after the IPO? Was it just easier than raising
funds in the public market?
– No risk, less efforts, lower costs, good pricing
The Axcan Story 16
17. Q & A
4 of 4
• How easy was it to find a new product or a company to acquire?
– Quite challenging: LG contacts, BD team, scientific symposia
• Why did Axcan decide to go private? An opportunistic transaction? Analysts'
pressure? SOX compliance costs?
– Maximize shareholders value; 2 products were running out of exclusivity
– SOX compliance was achieved in 2006; costs were already incurred
• Was it a good deal for TPG?
– As Léon often mentioned: “It’s not what you pay for it, it’s what you do with it.”
The Axcan Story 17