Our Services
"I tremendously enjoyed working with Catenion. They are fully at home in pharmaceutical Discovery and bring a highly unusual combination of a rigorous analytical mind–set with a pragmatic understanding of R&D strategy and organisational mechanics."
Dr. Gianni Gromo
Global Head Metabolic & Vascular Disease Area
F. Hoffmann–La Roche AG
If you are interested in receiving updates on our speaking engagements and copies of our publications, please let us know.
Our Insights
Catenion is passionate about providing whole new perspectives and approaches on how pharmaceutical and medical products executives can dramatically improve their returns on R&D. We are frequently asked to share these insights at major conferences. In addition, we publish our ideas in the form of Commentaries and Executive Briefings.
To see where we will be speaking and to read our publications, click on the links below.
Executive Briefing on Post Merger Integration — Capturing Deal Value through Strategic Vision and Rigorous Process
There are many valid reasons why companies pursue mergers & acquisitions (M&A) as part of their strategic growth plan. These include portfolio diversification, addition of top–line growth, acquisition of key technology, geographical expansion, or some combination of the above. However, the acquiring company is typically required to pay a premium of up to 30% in order to win the deal competition, and to satisfy shareholders of the target company.
In addition, it is widely held that the majority of M&A transactions fail to create shareholder value, or actually destroy it. So, why would companies overpay by up to 30%, and then be faced with an approximately 30% chance of actually realizing the value of the transaction?
Service Offering for Pre Due Diligence and Due Diligence Support
Catenion's approach to Pre Due Diligence and Due Diligence is to systematically review all the evidence and collate legitimate views on the asset's inherent risks and potential. As a result, the conclusion is as objective as possible. On this basis, we have developed a clear value proposition on how we can help address the issues our clients face. We use a structured and validated approach to assessing R&D projects and technologies which were originally designed in the context of portfolio management at large pharmaceutical companies.
This approach has been applied in full to well over one thousand assets over the last ten years; it is increasingly being used for Due Diligence and Pre Due Diligence support.
Strategic M&A Support for Pharmaceutical and Biotech Companies – minimizing the risk of "Winner's Curse"
Numerous reports indicate that M&A tends to destroys more value than it creates. In this Executive Briefing we discuss some of the specific challenges in Pharma and Biotech M&A. We show how we help our clients determine a suitable price range that takes into account the often significant uncertainties inherent in pipeline potential and market environments. In addition we give examples of how we accompany clients during the critical post–merger portfolio consolidation period. Drawing on principles dating back to the famed value investor Benjamin Graham we believe that Biotech and Pharma M&A is not a "quick fix" but it can be a powerful strategic lever for value creation.
Enhancing the Performance of Pharmaceutical Research
Pharmaceutical research is increasingly in the firing line. Over the past ten years or so, multiple attempts have been made by companies large and small to fix the machine; of late, "deconstruction" of the value chain has become the flavour of the day. Big and large pharma should focus on what they do best and leave major innovation to biotech and academe. Hasn't most breakthrough innovation originated outside of large industrialised structures anyway? – so the argument goes.
Rigorous Portfolio Management –
A Key to Successful Innovation
in the Medical Device Industry
The medical device industry has consistently outpaced all other industries including the pharmaceutical industry in the S & P 500 in terms of Total Shareholder Return over the last five years. While less affected by the current economic crisis than most other industries, overall growth of the sector is expected to slow down mainly due to increasing cost pressure in healthcare systems across the world.
Risk Profiles of Corporate Portfolio Strategies
The current meltdown of some segments of the global banking system can be seen as a direct result of three systemic weaknesses in the way that many financial services companies operated in a largely deregulated financial system during the last three decades. In this commentary we discuss how a thorough understanding of portfolio risk profiles can help companies design more sustainable strategies. We will explore a new valuation methodology and discuss a number of examples and case studies.
The Challenge for Japan’s Pharmaceutical Top Twenty
Simply copying the business models of the West will not do for Japanese companies to fulfill the Ministry’s vision, except through sheer luck. To many observers, the country’s industrial genius lies in imitating and improving on Western models, as exemplified by the success stories of the Japanese electronics, ship–building, machine tool and car industries. We show in this Commentary that establishing sustainable positions of competitiveness in the global pharmaceutical industry will require more than incremental innovation.
Zero Base Pharmaceutical R&D — A Thought Experiment to Address the Pharmaceutical Research Crisis
What we mean by "Zero Base R&D". The concept of zero based budgeting was originally introduced to help managers of private and public organisations systematically question the utility of each and every activity they plan to spend money on in the next fiscal period.
Recombinant Portfolio Management — Recognising and Enabling Innovation
Portfolio management has become standard practice in pharmaceutical R&D over the last decade. Most companies have implemented processes and systems with varying degrees of sophistication and rigour across the entire R&D value chain from early discovery to late development, both for internal opportunities and as part of due diligence and licensing activities for external opportunities.
Recombinant Innovation Management (RIM) — How to Stimulate Breakthrough Innovation within Large R&D Organisations
Pharmaceutical R&D is in a state of crisis: productivity is declining both in terms of output per spending as well as total output, while patent expirations threaten many successful product franchises within the next years. The main issue is that impressive advances in process productivity have not translated into more novel products addressing unmet needs.
Elements of a Winning R&D Strategy
R&D strategies come in different shapes and sizes. Some companies focus their efforts on therapeutic areas or indications, some on drug formats, some rely on scientific excellence and breakthrough innovation while others are obsessed with productivity and efficiency. What are the winning elements of R&D strategies?
Upcoming Speaking Engagements
World Pharma Innovation Congress USA, San Francisco
January 31–February 2, 2012
The team of Dr. Matthias Krings, Senior Partner, and Florian Jehle, Principal, will again attend a World Pharma Innovation Congress. After a successful event in London in October 2011 we decided to join this event in the US. Here Mr. Jehle will speak on creativity, innovation, portfolio management and generally share some insights into the roles of portfolio management and open innovation.
For more information, visit the website.
Press Event, Tokyo
February 2, 2012
Christian Elze, Senior Partner, will talk about the "Future of European Healthcare Systems" at a press event organized by the Research Group for the Future of Medicine.
The Pharma Summit 2012, London
February 9, 2012
Christian Elze, Senior Partner, and Florian Jehle, Principal, will both attend this conference sponsored by The Economist for the first time. There we will have a small exhibition space and will be talking about our insights into strategy development and innovation and portfolio management.
For more information, visit the website.
Bio CEO & Investor Conference, New York City
February 13 – 14, 2012
Catenion will sponsor of one of the largest independent investor conferences in the biotech industry. Florian Jehle, Principal, and Dr. Jan–Philipp Kruse, Associate, will attend and represent Catenion throughout the event.
For more information, visit the website.
Portfolio Management Resource Planning Conference, Philadelphia
February 27 – 29, 2012
Dr. Matthias Krings, Senior Partner, and Florian Jehle, Principal, will once again team up to represent Catenion. Dr. Krings will be chairman of the conference and Mr. Jehle will present. In addition to the conference we will also be offering a half–day, pre–conference training "Assessing Risk, Return and Strategic Fit for Early Stage R&D Projects and Portfolios" which will be facilitated by both Dr. Krings and Mr. Jehle.
For more information, visit the website.
Bio-Europe Spring 2012, Amsterdam
March 19 – 21, 2012
Florian Jehle, Principal, and Flavia Botschen, Analyst, will once more represent Catenion at one of Europe's biggest partnering conferences. Among other services they will highlight our Pre–Due Diligence and Due Diligence offerings as well as our M&A and Post Merger Integration support.
For more information, visit the website.
Innovations in Medical Devices, Berlin
March 21 – 23, 2012
Dr. Markus Thunecke, Senior Partner, and Thorsten Schmidt, Analyst, will attend this conference in Berlin. Dr. Thunecke will be a speaker on the first day. Additionally, Dr. Matthias Krings, Senior Partner, will be conducting a pre–conference training course "Assessing Risk, Return and Strategic Fit for Medical Device Projects and Portfolios".
For more information, visit the website.
Euro Biotech Forum 2012, Paris
May 30 – June 1, 2012
Dr. Matthias Krings, Senior Partner, will give a brief presentation and moderate a panel discussion titled: Creative R&D: New sources for innovation.
For more information, visit the website.
Pharmaceutical Strategic Alliances Conference 2012
New York City
September 17 – 19, 2012
Florian Jehle, Principal, will attend this conference to share some of our innovative ideas on and solutions to many of the challenges that the pharmaceutical and biotech industries face.
For more information, visit the website.
World Pharma Innovation Congress, London
October 16 –18, 2012
After continued successful experiences Catenion has decided to once again attend a World Pharma Congress. The team of Dr. Markus Thunecke, Senior Partner, and Dr. Matthias Krings, Senior Partner, will represent Catenion. Dr. Thunecke will be a speaker on the first day. He will share some insights into strategy development, asset valuation and risk assessment as part of our methodology for successful portfolio management. Additionally, we will have a small exhibition booth.
50th Annual Meeting of the Japanese Society of Clinical Oncology, Yokohama
October 25 –27, 2012
Christian Elze, Senior Partner, has been invited and will participate as a expert guest speaker.
University Lecture, Kyoto
October 31, 2012
Christian Elze, Senior Partner, will give two lectures at Kyoto University School of Medicine and Public Health on "Global Drug Development" and "Healthcare Systems in European Countries".
Past Speaking Engagements
Tokyo University Symposium, Toyko
January 19, 2012
Christian Elze, Senior Partner, gave a lecture on the "Role of Private Insurance in Healthcare" at a symposium organized at Tokyo University's Graduate School of Public Policy.
JMDC Management Strategy Seminar, Tokyo
January 13, 2012
Christian Elze, Senior Partner, was one of three speakers at this seminar about the use of real life clinical data. Mr. Elze discussed the complexity and risks involved in the development of new medicines.
View the programme: English / Japanese
Columbia University, New York
January 12, 2012
Dr. Matthias Krings, Senior Partner, and Dr. Jan-Philipp Kruse, Associate, presented our Risky Business Workshop to life science students in association with the Office of Graduate Affairs.
11th Annual Project and Portfolio Management for Pharma Conference, Amsterdam
December 1–2, 2011
Dr. Matthias Krings, Senior Partner, was chairman of this conference. During a session on day two, Florian Jehle, Principal, gave a perspective on effective R&D decision making. He discussed project and portfolio–level decision making as well as typical barriers and how to overcome them.
Bio–Europe Fall 2011, Dusseldorf
October 31 – November 2, 2011
Florian Jehle, Principal, and Flavia Botschen, Analyst, represented Catenion at one of Europe's biggest partnering conferences. Among other services they highlighted our Pre–Due Diligence and Due Diligence offerings as well as our M&A and Post Merger Integration support. They also demonstrated our Risky Business Boardgame workshop which is from The Catenion Academy, the educational arm of Catenion.
World Pharma Innovation Congress, London
October 18–20, 2011
Dr. Matthias Krings, Senior Partner, and Florian Jehle, Principal, both attended this congress for the first time. There they shared some of their insights into drug discovery and development and portfolio management in general. As part of this event they also discussed some of our newest proprietary tools.
Molecular Diagnostics Summit Europe, Hannover
October 11–13, 2011
Florian Jehle, Principal, and Dr. Thorsten Schmidt, Analyst, represented Catenion at this specialist summit. This was Dr. Schmidt's first conference since joining Catenion.
Strategic Pipeline Planning and Resource Allocation Summit, Philadelphia
September 20–21, 2011
The team of Dr. Matthias Krings, Senior Partner, and Dr. Jan–Philipp Kruse, Associate, represented Catenion in Philadelphia. This was Dr. Kruse's first conference since joining Catenion. Dr. Krings was co–chair of the event and also a speaker.
3rd Annual Payer Experiences with Risk–Sharing & Value–Based Pricing & Reimbursement Schemes Conference, Berlin
June 16–17, 2011
Dr. Matthias Krings, Senior Partner, and Florian Jehle, Principal, represented Catenion at this 3rd annual conference in Berlin. Dr. Krings was also a speaker and spoke on the topic "Dealing with market access arguments in early–stage drug development."
5th Annual Pharma Forecasting Excellence Europe Conference, Berlin
June 14–15, 2011
Dr. Gerrit Buurman, Manager, represented Catenion as a speaker during this Forecasting conference in Berlin.
École polytechnique fédérale de Lausanne (EPFL), Lausanne
May 10–12, 2011
As part of the Executive MBA in Management of Technology (MoT) programme at École polytechnique fédérale de Lausanne, Matthias Krings, Senior Partner, held an intensive three–day course to introduce students to Decision Making in Drug Development which included presentations, models, an interactive case study and hands-on work.
2011 Pharma PPM Toolbox conference, Vienna
April 14 – 15, 2011
Christian Elze, Senior Partner and Florian Jehle, Manager represented Catenion in Vienna. Mr. Elze was chairman of this conference for both days and Mr. Jehle was a speaker.
BIO–Europe Spring 2011, Milan
March 14 – 16, 2011
Florian Jehle, Manager, and Sophia von Voithenberg, Client Relationship Manager, once again represented Catenion at one of Europe's biggest partnering conferences. Among other services they highlighted our Pre–Due Diligence and Due Diligence offerings and The Catenion Academy's Risky Business Boardgame workshop.
4th Annual Advanced Pharma Resource Planning & Portfolio Management Conference, Philadelphia
February 28 – March 1, 2011
Dr. Markus Thunecke, Senior Partner, was chairman and Dr. Kevin L. Stark, Principal, attended his first conference with Catenion and was a speaker on the second day of this event. His presentation was titled: "Revitalizing Decision Making – Why Effective Portfolio Management is Needed More Than Ever".
2nd Annual Innovations in Medical Devices Conference, Berlin
February 23–25, 2011
Senior Partner Dr. Matthias Krings was chairman for both days of this conference. He was joined by Manager Florian Jehle who was a speaker on day two. Additionally, Dr. Krings held a half–day interactive pre–conference workshop on Wednesday, February 23rd, which introduced participants to Effective Innovation Portfolio Management.
Oxford University, Oxford
February 17, 2011
Dr. Matthias Krings, Partner, and a small team presented our Risky Business Workshop to life science students in association with Career Services.
10th Annual Project and Portfolio Management for
Pharma, Prague
December 2–3, 2010
Dr. Markus Thunecke, Senior Partner, presented a paper titled "Perspective on Effective R&D Decision Making"
Florian Jehle, Manager, was the conference chairman
BioEurope, Munich
November 15–17, 2010
Florian Jehle, Manager, and Sophia von Voithenberg, Client Relationship Manager, attended BioEurope and presented some of Catenion's offerings and The Catenion Academy's Risky Business workshop.
Science and Engineering Fair, Oxford University, Oxford
November 3, 2010
Florian Jehle, Manager, and Colin Buck, Associate, attended the fair and represented Catenion.
6th Annual Project & Portfolio Management in the Pharmaceutical Industry, Milan
September 28–29, 2010
Matthias Krings, Partner, served as Chairman
Gerrit Buurman, Partner, was a presenter
Seminar on Pharmaceutical Innovation, Tokyo
February 15, 2010
Christian Elze, Senior Partner, gave a presentation to 25 journalists about the Future Perspectives for the Japanese Pharmaceutical Industry in the Context of the Country's Biomedical Innovation System.
For more information about this seminar, see a short description or the presentation English / Japanese.
Innovations in Medical Devices Conference, Berlin
February 4–5, 2010
Florian Jehle, Manager, served as chairman.
Arno Heuermann, Partner, was also in attendance.
9th Annual Project and Portfolio Management for
Pharma, Barcelona
January 28–29, 2010
Markus Thunecke, Senior Partner, served as Chairman.
Matthias Krings, Partner, was a presenter.
R&D Leaders' Forum 2009, Boston
November 9–11, 2009
Dr. Markus Thunecke, Senior Partner, was a presenter.
Christian Elze, Senior Partner, was also in attendance.
8th Annual Portfolio Evaluation and Strategic Decision Making Summit, Philadelphia
September 22–23, 2009
Dr. Matthias Krings, Partner, served as the chair of this conference and presented "Utilize Portfolio Risk Profiles to Design Sustainable Corporate Strategies"
Florian Jehle, Manager, was also in attendance.
5th Annual Project & Portfolio Management in the Pharmaceutical Industry Conference, Vienna
September 17–18, 2009
Dr. Markus Thunecke, Senior Partner, was the chair of this conference.
Dr. Matthias Krings, Partner, was a presenter.
4th Annual Pharmaceutical Portfolio & Product Life–Cycle Management Conference, London
June 29–30, 2009
Dr. Matthias Krings, Partner, presented "Two Decades of Portfolio Management — Where Do We Stand?"
Florian Jehle, Manager, was also in attendance.
8th Annual Project and Portfolio Management for Pharma Conference, Barcelona
January 29–30, 2009
Dr. Markus Thunecke, Senior Partner, presented "Two Decades of Portfolio Management — Where Do We Stand?"
Dr. Matthias Krings, Partner, was the chair of this conference.
Project & Portfolio Management in the Pharmaceutical Industry, Barcelona
September 16–17, 2008
Christian Elze, Senior Partner, was the chair of this conference.
United States Drug Information Association Annual Meeting, Boston
June 22–26, 2008
Christian Elze, Senior Partner, presented "Option Space Mapping" in a session titled "Advanced Portfolio Management Methodologies".
Portfolio Management in Pharma Conference, Madrid
February 5, 2008
Dr. Markus Thunecke, Senior Partner, presented "Decision Analysis Revisited — The Unmet Needs of Portfolio Management in 2008 and How to Address Them".
Dr. Matthias Krings, Partner, was also in attendance.
7th Annual Project and Portfolio Conference Management for Pharma, Amsterdam
November 26–27, 2007
Dr. Markus Thunecke, Senior Partner, chaired the conference and gave a presentation titled "Portfolio Management for Discovery / Early Development and Full Development".
European Biopharmaceutical Review
October 2011
Click here for a pdf version of this article
Click here to see the full Autumn issue
Pharm Tech Japan
Vol 27. No 3 (March 2011)
Click here for a pdf version of this article
Journal of Commerical Biotechnology
Vol 17. Nr 1 (January 2011)
Click here for a pdf version of this article
European Biopharmaceutical Review
January 2011
Click here for a pdf version of this article
Journal of Clinical and Experimental Medicine (IGAKU NO AYUMI)
Vol 234. No 9 (August 28, 2010)
Click here for a pdf version of this article
Pharm Tech Japan
Vol 26. No 6 (May 2010)
Click here for a pdf version of this article
Nikkei Business Publications
May 24, 2010
Click here for a pdf version of this article
Monthly Medical Information eXpress
April 2010
Click here for a pdf version of this article
European Biopharmaceutical Review
July 2009
Click here for a pdf version of this article
Ärzte Zeitung für Onkologen und Hämatologen
June 2008
Click here for a pdf version of this article
Personalized Medicine
February 2006
Click here for a pdf version of this article
Catenion's Commentaries and Executive Briefings are available in PDF format above.
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