Book / News Recs for Incoming AN1 in HC Group

To prepare for your role in the Healthcare group, here are some top recommendations based on the most helpful WSO content:

1. Competency and Comfort with the Scientific Side

• Books:
  • The Pharmagellan Guide to Biotech Forecasting and Valuation: A practical resource for understanding biotech valuation and forecasting.
  • Biotechnology Valuation by Karl Kleegan: Focus on Chapter 3 (drug development process) and Chapter 4 (building a disease model). Note: This book assumes prior knowledge of valuation techniques like DCF and comps.
  • Pick an Introductory Book to Molecular Biology: This will help you grasp the basics of the science behind biotech and med devices.
• Bonus Video:
  • How to Analyze a Clinical Trial: While not directly related to IB, it’s useful for understanding clinical trial processes and their impact on share prices.

2. Knowledge of the Industry and Major Players

• News and Reports:
  • FierceBiotech and FiercePharma: Great for staying updated on biotech and pharma news.
  • Fierce MedTech and MassDevice: Focused on the medical device industry.
  • Bain's Global Healthcare Private Equity and Corporate M&A Reports: Insightful for understanding M&A trends in healthcare.
  • Paul Keckley's Weekly Report: Offers political analysis and insights from government and survey data.
  • Axios Vitals and WSJ Health: For broader healthcare industry updates.
• Books:
  • Emperor of All Maladies: A historical perspective on cancer treatment.
  • Bottle of Lies and Bad Blood: Light reads that provide insights into the industry’s challenges and scandals.
• Equity Research Reports:
  • Access reports from major investment banks or platforms like CapitalIQ and Pitchbook. These are invaluable for understanding industry trends and company-specific insights.

3. Technical Acumen and Modeling

• Resources:
  • Guide to Evaluate a Biotech Company: A detailed guide uploaded on WSO that can help you understand valuation methodologies and modeling considerations specific to biotech.
  • Biotech Finance Part 2: Valuation Methodologies and Modeling Considerations: Available on WSO, this guide dives into the technical aspects of biotech finance.
• Practice:
  • Focus on building models that incorporate key drivers for biotech and med device companies, such as R&D expenses, clinical trial outcomes, and regulatory milestones.

By diving into these resources, you’ll build a strong foundation in the scientific, industry, and technical aspects of healthcare IB. Good luck hitting the ground running!

Sources: Healthcare IBD - Summary & Resources, Healthcare IBD - Summary & Resources, How Do I Get Smart in Biotechnology Space?