Campbell Alliance to Release New Forward-Looking Industry Report on Deal-Making Trends at the 2013 BIO International Convention

NEW YORK, April 19, 2013 /PRNewswire/ -- Campbell Alliance, an inVentiv Health company and an industry leader in biopharmaceutical and medical technology consulting, will release the results of its fifth annual Dealmakers' Intentions study during a Super Session at the 2013 BIO International Convention in Chicago, Ill., at McCormick Place.

The Dealmakers' Intentions 2013 study results represent input from all the major pharmaceutical markets, capturing expectations for deal activity, supply and demand for assets at different stages of development, and approaches to valuation.  Interesting findings to emerge from the study include:

• Acquisitions with earn outs have filled the void created by the decline of traditional licensing.
• Both in-licensers and out-licensers have a positive outlook for 2013.
• In-licensers are more interested in early-stage assets than seen in previous study years.
• More than half of the time when deals fail, they fail for reasons that are within the control of the negotiating teams.
• 2013 may be a sellers' market for later-stage oncology, antibiotic, and vaccine assets.
• There continues to be a relative over-supply of early-stage oncology assets.
• Orphan products and antibody-drug conjugates are expected to be the top two "hot" areas for licensing in 2013.

"Dealmakers on both sides of the table should be prepared for 2013 to be one of the most active years in recent history," said Jeff Stewart, Director, Corporate Development Center of Excellence, Campbell Alliance. "This will be driven by the increasing need for out-licensers to access capital and in-licensers to access new products.  The discount rate spread has increased to the point where valuations that were simply too far apart in 2012 now can be fully in line even in the face of different commercial projections."

Specifically for in-licensers, 2013 may be a great time to pursue early-stage oncology assets, while they can expect to face competition for clinical-stage and marketed oncology assets.  Similarly, early-stage antibiotic and dermatology assets are relative buyers' markets.  Other therapeutic areas are relative sellers' markets and must be approached with due consideration.  It is important for in-licensers to remain objective in valuing assets and to carefully weigh the organizational fit of assets under consideration.

"For out-licensers, the market appears to be shifting in their favor," added Stewart. "To turn this positive outlook into successful deals, however, out-licensers will need to provide more pricing and market access justification in their non-confidential materials and bridge the valuation gap through credible validation of the commercial opportunity."

A summary of the study results will be presented during a Super Session at the BIO International Convention on Wednesday, April 24 at 2:00pm CT, followed by a panel discussion involving senior industry executives. Panelists for this Super Session will include:

• William Hait, MD, PhD – Global Head, Janssen Research & Development LLC, Janssen
• Bahija Jallal, PhD – Executive Vice President, R&D, MedImmune
• John Leonard, MD – Senior Vice President, Chief Scientific Officer, AbbVie
• Roger Pomerantz– Worldwide Head of Licensing & Acquisitions, Senior Vice President, Merck Research Labs
• Chihiro Yokota, RPh – Corporate Executive, Global Head, Business Development and Licensing & Alliances, Astellas Pharma Inc.

Additional information about Dealmakers' Intentions 2013, including access to a white paper summary of the results, is available here: http://www.campbellalliance.com/dealmakers.

About Campbell Alliance
Campbell Alliance, an industry leader in biopharmaceutical and medical technology consulting, is the Consulting business segment of inVentiv Health, a leading global provider of best-in-class clinical, commercial, and consulting services to companies seeking to accelerate performance.  The firm's clients include all of the world's top-20 pharmaceutical companies, as well as numerous emerging and midsize firms.  Campbell Alliance is organized into three Centers of Excellence—Commercial, Medical, and Corporate Development—each of which offers a range of services to a critical area of the pharmaceutical, biotechnology, and medical technology industries.  Each of our Centers of Excellence is a dedicated consulting team whose members are highly specialized and offer deep expertise in their chosen areas.  From its locations in New York City, Raleigh, NC, Parsippany, NJ, Los Angeles, San Francisco, Chicago, Boston, Philadelphia, Atlanta, London and Zurich, Switzerland, the firm serves clients throughout North America, Europe, and Japan. For more information on Campbell Alliance, please visit http://www.campbellalliance.com.

About inVentiv Health
inVentiv Health, Inc. is a leading global provider of best-in-class clinical, commercial and consulting services to companies seeking to accelerate performance. inVentiv offers convergent services that deliver extraordinary outcomes to clients whose goal is improving human life. In 40 countries around the world, inVentiv's 13,000 employees help clients rapidly transform promising ideas into commercial reality. inVentiv clients include more than 550 pharmaceutical, biotech and life sciences companies, as well as companies that now see health as part of their mission. inVentiv Health, Inc. is privately owned by inVentiv Group Holdings, Inc., an organization sponsored by affiliates of Thomas H. Lee Partners, L.P., Liberty Lane Partners and members of the inVentiv management team. For more information, visit http://www.inventivhealth.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause our performance to differ materially. These forward-looking statements reflect our current views about future events and are subject to risks, uncertainties and assumptions. We wish to caution readers that certain important factors may have affected and could in the future affect our actual results and could cause actual results to differ significantly from those expressed in any forward-looking statement. Such factors include, without limitation: the impact of our substantial level of indebtedness on our ability to generate sufficient cash to fulfill our obligations under our existing debt instruments or our ability to incur additional indebtedness; the impact of customer project delays and cancellations and our ability to sufficiently increase our revenues and manage expenses and capital expenditures to permit us to fund our operations; the impact of the consummation of any future acquisitions; the impact of any change in our ratings and the ratings of our debt securities on our relationships with customers, vendors and other third parties;  the impact of any additional leverage we may incur on our ratings and the ratings of our debt securities; our ability to continue to comply with the covenants and terms of our senior secured credit facilities and to access sufficient capital under our credit agreement or from other sources of debt or equity financing to fund our operations; the impact of any default by any of our credit providers; our ability to accurately forecast costs to be incurred in providing services under fixed price contracts; our ability to accurately forecast insurance claims within our self- insured programs; the potential impact of pricing pressures on pharmaceutical manufacturers from future healthcare reform initiatives or from changes in the reimbursement policies of third-party payers; our ability to grow our existing client relationships, obtain new clients and cross-sell our services; the potential impact of financial, economic, political and other risks, including interest rate and exchange rate risks, related to conducting business internationally; our ability to successfully operate new lines of business; our ability to manage our infrastructure and resources to support our growth; our ability to successfully identify new businesses to acquire, conclude acquisition negotiations and integrate the acquired businesses into our operation, and achieve the resulting synergies; the resolution of purchase price adjustment disputes in connection with our recent acquisitions and related impacts; any disruptions, impairments, or malfunctions affecting software as well as excessive costs or delays that may adversely impact our continued investment in and development of software; the potential impact of government regulation on us and on our client base; our ability to comply with all applicable laws as well as our ability to successfully adapt to any changes in applicable laws on a timely and cost effective basis; our ability to recruit, motivate and retain qualified personnel, including sales representatives; the possibility that client agreements will be terminated or not renewed; any potential impairment of goodwill or intangible assets; consolidation in the pharmaceutical industry; changes in trends in the healthcare and pharmaceutical industries or in pharmaceutical outsourcing, including initiatives by our clients to perform services we offer internally; our ability to convert backlog into revenue; the potential liability associated with injury to clinical trial participants; the actual impact of the adoption of certain accounting standards; and our ability to maintain technological advantages in a variety of functional areas, including sales force automation, electronic claims surveillance and patient compliance. Holders of our debt instruments are referred to reports provided to investors from time to time and the offering memoranda provided in connection with the issuance of our notes for further discussion of these risks and other factors.

SOURCE Campbell Alliance

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