医药商业化市场动态

2H 2024 Houlihan Lokey, Inc. (NYSE:HLI) is a leading global investment bank with expertise in mergers andacquisitions, capital markets, financial restructuring, and financial and valuation advisory.Our firm is the trusted advisor to more top decision-makers than any other independent global investment bank.LeadingCapital Markets AdvisorCORPORATE FINANCENo. 1Global M&A AdvisorAbout Our Firm22024 M&A Advisory RankingsAll Global TransactionsAdvisorSource: LSEG (formerly Refinitiv).Excludes accounting firms and brokers. No. 1Global Restructuring AdvisorFINANCIAL RESTRUCTURINGNo. 1Global M&A Fairness OpinionAdvisor Over the Past 25 YearsFINANCIAL AND VALUATION ADVISORY1,800+Transactions Completed Valued atMore Than $3.8 Trillion Collectively2,000+Annual Valuation Engagements2000–2024 Global M&AFairness Advisory RankingsAdvisorSource:LSEG (formerly Refinitiv).Announced or completed transactions.Deals415HoulihanLokey1406Rothschild & Co2371Goldman Sachs & Co3342JP Morgan4309Morgan Stanley52024 Global Distressed Debt &Bankruptcy Restructuring RankingsDealsAdvisor88HoulihanLokey159PJT Partners Inc248Rothschild & Co344Lazard440Perella Weinberg Partners LP5Source: LSEG (formerly Refinitiv). Learn more about howour advisors can serveyour needs:Corporate FinanceFinancial andValuation AdvisoryFinancial RestructuringOur Industry Coverage 29Senior officers dedicated tothe sponsor community in theAmericas and Europe.1,300+Sponsors covered, providingmarket insights and knowledgeof buyer behavior.800+Companies sold to financialsponsors over the past five years.Fully Integrated FinancialSponsor Coverage Our clientsbenefit fromour local presenceand global reach.AMERICASAtlantaLos AngelesBaltimoreMiamiBostonMinneapolisCharlotteNew YorkChicagoSan FranciscoDallasSão PauloHoustonWashington, D.C.3(1)As of December 31, 2024.(2)As of January 31, 2025.(3)LTM ended December 31, 2024.36LocationsWorldwide~2,000Total FinancialProfessionals 4Featured TransactionsHoulihan Lokey’s pharma commercialization coverage efforts have earned areputation for achieving outstanding results in M&A advisory and capital raising.Our clients range from founder-owned and founder-operated medical communications firms tolarge, diversified commercialization platforms. We understand that an industry driven by complextherapeutics, precision medicine, and constant innovation requires the sophistication of anadvisor who can think ahead of the market and utilize solid industry relationships to helpadvance your vision.£has&andTombstones included herein represent transactions closed from 2019 forward.&AboutOur Pharma Commercialization Practice Subsector CoverageMedicalCommunicationsHealth Economicsand OutcomesResearch (HEOR)Pricing andMarket AccessData, Analytics,and TechnologyMedicalEducation Mark MartinManaging DirectorMDMartin@HL.com+1 310.788.5308Kevin RogstadSenior Vice PresidentKRogstad@HL.com+44 (0) 20 7907 4284Will DavidsonAssociateWDavidson@HL.com+1 404.926.1620Please reach out to us to schedule acall to discuss this quarter’s marketupdate or to explore how we canserve your business needs.LeadershipContact Us BrandonBleakleyDirectorBBleakley@HL.com+1 646.259.7488Michael RuffcornVice PresidentMRuffcorn@HL.com+1 404.495.7003RebeccaTinklerAssociateRTinkler@HL.com+1 404.926.1636Request a MeetingLearn More About Us HealthcareMarketingReal-WorldEvidence (RWE)Life SciencesConsultingRegulatory AffairsPatientEngagement IntroductionPharma Commercialization Market UpdateOptimism among operators and capitalproviders alike continued to rise acrosspharma commercialization and thebroader life sciences services sector in2024, as short-duration headwinds from2023 abated and global commercial,medical, and market access budgetspending increased with greaterconsistency. Expectations for 2025are anticipated to remain high for manyfirms across the sector.The pharma commercialization sector—broadly defined as the market of outsourcedservice providers enabling life sciences companies to bring novel therapies to market—continues to expand as the increasing complexity of innovative products, the emergenceof real-world data in decision-making, and shortened new active substance (NAS)approval timelines heighten the requirement for specialized outsourced solutions.2H 2024 saw positive momentum continue across both pharma and biotech. Outsourcedservice providers finished the year on a high note, reporting material increases in toplineperformance when compared to 2023. With conversations regarding following-yearbudgets beginning as early as Q4 2024, bookings for 2025 are off to a hot start, withmany commercialization firms forecasting significant year-over-year revenue growthbased on current backlogs and other longer-term visibility metrics.Biotech clients are expected to fuel much of the anticipated growth, capitalizing on aninverted near-term yield curve, a hotter IPO market, and larger funding pools, amid awave of successful recent exits to large pharma. Upcoming patent cliffs