Life Sciences Newsbrief – March 2011, Issue #29

Welcome to our monthly issue of the Life Sciences Newsbrief. This publication will provide you with a snapshot of developments in the Canadian and global life sciences industry along with upcoming Canadian events and thought leadership. If you need further information, please contact any of the life sciences professionals listed.

Thought Leadership

MoneyTree: Taking a tumble
Life sciences venture capital (VC) investment fell steeply during the fourth quarter of 2010, according to the PwC/NVCA MoneyTree Report with data from Thomson Reuters. This decline marked the largest year-over-year decrease since the first quarter of 2009 and the lowest level of funding for the sector since the first quarter of 2003. One possible reason attributed for the drop-off was the increasingly challenging regulatory environment.

California Biomedical Industry 2011 Report
The biomedical industry is poised for growth despite increasing global competition. The California Biomedical Industry - 2011 Report indicates that despite increased competition and proliferation of biomedical and medical technology overseas, California remains the industry's global leader and it stands to grow even larger as the U.S. epicentre of biomedical innovation.

Auditor view: What keeps auditors of pharmaceutical companies awake at night?
Simon Friend, PwC’s Global Pharmaceuticals and Life Sciences Leader, gives his view. Audits focus on those areas that are not only material but also involve subjective assessments and the application of judgement by management. Auditors need to stay close enough to management to be able to understand how these critical judgements evolve over time, but with sufficient distance to be able to remain objective and impartial.

Build and Beyond: The (r)evolution of healthcare PPPs
PPPs have become established vehicles for using private capital to build healthcare infrastructure. However, many of these arrangements have proven to be inflexible and unsustainable. A new framework for PPPs is emerging that goes beyond the financing of the deal and into anticipating and operating more efficient care delivery. While private capital brings discipline and savings to healthcare infrastructure, future PPPs will focus on savings achieved long after the deal has closed.