Biotech/Life Sciences Key Drivers

Hello Monkeys,

I have an ER Associate interview in a week for a boutique that covers biotech/life sciences. I have no experience in biotech, but I been reading up on the sector from publicly available sources. This is entry-level so I don't think they'll require me to have a full understanding of biotech, but rather highlighting some of the key drivers.

Some common trends that I have come up with as follows:

1. Declining reimbursements have led to an increase in the price of drugs
2. Aging population has increased demand for new medications, as diseases are becoming more complex and much more difficult to treat
3. The shift from volume based care to value based care under MACRA has put added regulatory pressures on pharmaceuticals
4. An increase in healthcare consolidation as a means to reduce costs from added regulatory burdens
5. Large-cap pharma has excess cash on their balance sheets and are facing pressures from investors/shareholders to increase their M&A activities.

Please feel free to comment if I'm incorrect or if I have missed anything crucial that is worth mentioning.

Thanks.