Category Archive for "Research"
Relative Price & Value of pre-Phase III Pipelines for the 23 Largest Drug & Biotech Companies – Updated View
Using patent data, we estimate the relative ‘true economic’ value of companies’ pre-phase III (aka ‘hidden’ pipelines), and then compare these estimates to the apparent market capitalization of these same pipelines. Since inception (November of 2012), our portfolios of stocks
Payments and the Convergence of Physical and Digital Commerce
“Data is the weapon” Dan Schulman, AXP Consensus is that smartphone penetration (now over 65% of US mobile subscribers) will allow digital brands to extend their e-commerce franchises and data-enabled marketing skills to the physical environment. Google, for example, is
Quick Thoughts: Cost of BAC Settlement Meaningfully Below Headline Figure
While the headline for the mortgage settlement announced today with the Department of Justice is $17bn ($9.65bn in cash, of which $5bn is penalty and the balance remediation expense, and $7bn in consumer relief), the Q3 after-tax charge will be
Quick Thoughts: Winners and Losers as Relentless Data Breaches Drive the US Payments Industry to EMV and a New Digital Era for Data-Enabled Fraud Management and Marketing
Visa and MasterCard are being forced to promote EMV-standards for chip-based cards as ongoing data breaches (including those at Albertson’s and SuperValu announced on Friday) increase the risk that network inaction triggers regulatory intervention. However, EMV adoption (which makes card
Quick Thoughts: Amazon Mobile Illustrates the Increasing Importance of Physical Infrastructure to Digital Marketing
The launch by Amazon of a mobile POS reader illustrates the importance to the online giants of becoming involved in the transaction data generated at physical point-of-sale (which accounts for over 90% of retail sales). AMZN and GOOG, in particular,
SSR Health New Product Approval Portfolios & Supporting Data Update
Drug, biotech, and research-based spec pharma stocks tend to outperform their peers in the year or so before and after regulatory actions (‘PDUFA’ dates) on major new products, with a large portion of total risks being concentrated in the days
The Challenge to Online Giants as Banks and Retailers Build Data Strategies for Mobile
In some cases, the impact of mobile will be less to allow online payments/commerce franchises to extend to the physical world and more to allow traditional retailers to challenge effectively online. The launch of Visa Checkout and Chase Quick Check
CORRECTION: GILD v. ABBV: An In-Depth Review of Global Sales Prospects for Current-Generation Hepatitis C Treatments
We believe consensus estimates for global HCV sales are reasonable; however we believe the share of consensus allocated to GILD’s regimens (77%) is a best-case scenario; and that the share of global consensus attributed to ABBV’s pending HCV franchise is