I will be interning at a healthcare coverage group (mostly biotechnology/life sciences) this summer. As my university has cancelled all physical lectures and opted for remote education through the remainder of the academic year, I plan to dedicate the extra time to "get smart" in the biotechnology space.
To anyone currently working in healthcare IB, what was your process of understanding the industry's latest trends, clinical trial processes and regulatory environment? If you could go back and re-learn the industry, what are some key recommendations and resources you would give to yourself?
Thanks a bunch, stay safe out there!
Some resources: 1) as mentioned above, publications like FierceBio FiercePharma 2) equity research reports and primers from major ibanks. You might be able to access these from your electronic resources on campus in the library or you may need to ask for favors from working professionals who have access to CapitalIQ, Pitchbook, etc. 3) add junior equity research professionals within the space on Linkedin and try to get them to like you. Normally it means buying them coffee but clearly now that's more difficult to do. 4) do a Google search using extension filetype:pdf and filetype:ppt That pulls up some great resources for me every time 5) look for alumni within equity research even if they're not biotech and ask them to send you stuff 6) go to the departments in UPenn and Johns Hopkins, both of which offer masters in biotech, and ask what course materials are on reserve in the library or electronically 7) find friends who are on buyside in biotech as they will have lots of resources 8) do NOT wait for the bank to educate you on the subject. You're literally being paid to do research and it's your job to hustle up and get smart before you hit the desk. People respect proactivity.
9) once you've gathered the above knowledge, compile it into a PPT and on day 1 (or before) send it to your superior with deep humility. "Hey boss, I know I'm a neophyte who knows nothing. But I pulled together this primer info. I'm trying to get smart and organize my learning. If you have stuff I should be reading in addition, I'd love to hear of it. I'm going to be doing everything I can to help out and make your life easier, and I also look forward to learning from you." 10) figure out which firms and people are smart in biotech and healthcare. JP Morgan, Jefferies, GS, etc.