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Stock Watch: Beware The Halo Effect Of Biopharma Leaders

Serial Entrepreneurs Who Failed To Deliver Down The Line

 
• By Andy Smith

Some entrepreneurs combine talent and experience to produce multiple profitable exits for investors. But there are many who do not, and past success is indeed no guarantee of future performance.

Stock Watch Image, Andy Smith
ANDY SMITH OFFERS A LIFE SCIENCE INVESTOR'S PERSPECTIVE ON BIOPHARMA BUSINESS

While it is human nature to expect a CEO of a company that has been successful to go on to repeat their triumphs, success may be down to luck or turn out to be elusive in more challenging assignments.

When I worked at 3i Group there were hushed mentions of a study of all the private investments that 3i had made going back decades. It measured the success rates of first-time and repeat entrepreneurs

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