I am Joachim Greuel,
Managing Director at Bioscience Valuation,
a company engaged in portfolio management
and risk management as well.
And I'm going to talk about
and Risk Management
in the Pharmaceutical Industry.
Before I begin, a few words about myself,
I studied biology in Germany and in the UK,
and received a PhD in neuroscience
from the Max-Planck-Institute
for Brain Research.
I also hold an MBA
from the Wharton School of the University
of Pennsylvania in the US
with a healthcare management
and finance focus.
I also served as academic director
at the IE Business School in Madrid,
teaching courses related to pharmacoeconomics
and also related to portfolio managements
in the pharmaceutical industry.
Before I co-founded Bioscience Valuation
more than 18 years ago,
I worked for Bayer Pharmaceuticals
as head of a research group
for couple of years
and also as investment manager
for a venture capital fund in Switzerland.
The presentation is divided into four parts.
I will start with a short introduction
and then move on to the evaluation
of individual projects.
The evaluation of individual projects
is a prerequisite for portfolio management.
The third part will talk about
portfolio planning and risk management,
and the final section will focus on project
and portfolio value maximization.