A Preliminary Study of Life Science Business Investment Strategy

• Main Authors: Chiang Wen Jen, 江文仁
• Other Authors: J.T. Chiang
• Format: Others
• Language: zh-TW
• Published: 2001
• Online Access: http://ndltd.ncl.edu.tw/handle/51108303475375853786

碩士 === 國立臺灣大學 === 商學研究所 === 89 === Much of Value in the early stages of a pharmaceutical project is contained in the promise that blockbuster drug will result. In the biotechnology industry in particular, many companies have significant valuations long before they earn any profits from selling their products. In the past, investors have bid up the stock prices of many biotech companies, and their prices have remained high relative to their discounted cash flow valuation. This phenomenon is surprising to many markets observers. Real options valuation methods can help assess the value investors are assigning biotech companies. The purpose of the study： I.We learn about the life science business development and how to raise funds. II.Considering the biotech development, we analysis the factors which influence the life science investment. III.We will use real option methods as technology valuation and decision making tools to discuss the life science investment strategy.