IPO Step-Ups: Services all the way
This article was originally published in Start Up
Executive SummaryJudging by the returns to private investors, service companies win hands-down over drugs and devices.
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It is a world, at least the US corner of it, in which any common understanding of drug value is confused by opposing incentives – to opacity and transparency, to looking at benefit broadly or narrowly, long-term or short-term: value, in short, to whom?
Merck and UnitedHealth's Optum group have partnered to explore various value constructs.