Healthcare >> Sector Roundtables >> October 16, 2000

Roundtable Forum: Specialty Pharmaceuticals, Generics & Drug Delivery Cos

JERRY I. TREPPEL is a Managing Director with Banc of America Securities LLC. He holds a Bachelor's degree in Microbiology from Rutgers University, a Master's degree in Hospital Administration from Washington University, and an MBA from New York University. Mr. Treppel was previously associated with Warburg Dillon Read, Dillon Read, and Furman Celz. His interests include politics, Judaic history, and baseball. Profile
IAN C. SANDERSON is a Managing Director at SG Cowen. A member of the Healthcare/ Pharmaceutical Team, he covers emerging and mid cap pharmaceutical companies including specialty pharmaceutical, drug delivery and generic pharmaceutical companies. Prior to joining SG Cowen, Mr. Sanderson was associated with Houlihan Lokey Howard & Zukin, Cambridge Associates and Putnam International Advisors and U.S. Surgical Corporation. He received a BA in Political Economy from Williams College and an MBA in Finance from the Wharton School at the University of Pennsylvania. Profile
ANDREW S. FORMAN is Managing Director of the healthcare research group at Friedman, Billings, Ramsey Group, Inc. He has nearly 20 years of experience in both the healthcare and financial services industries. Mr. Forman's concentration is the specialty pharmaceutical sector. Since joining FBR in July 2001, he has built a team of seven professionals covering 22 companies, which is expected to grow to a team of 10 following more than 30 companies in 2003. In 2000, Mr. Forman ranked No. 9 in the Institutional Investor's poll in the specialty pharmaceutical category. In 1999, he was ranked the No. 1 analyst by Reuters Survey of small to mid-size pharmaceutical companies, and chosen as one of 10 analysts on Zack's All Star Team for healthcare stock picking in 1999'2000. Mr. Forman's accomplishments are a testament to his deep understanding of the healthcare industry, where he worked for more than 10 years. He was a pharmaceutical sales representative for Bristol-Myers, a business development manager in the biotechnology systems division of DuPont, and later the director of business development at Cygnus, a drug delivery company, where he was responsible for forging alliances with pharmaceutical companies. Mr. Forman began his Wall Street career when he joined Dillon Read as a drug delivery analyst in 1996. He later worked with UBS Warburg, where he covered specialty pharmaceutical companies for five years, before joining FBR in 2001. Mr. Forman received his BA in physiology from Rutgers, and his MBA from Columbia Business School. Profile
ALEX ZISSON is a Managing Director and Senior Pharmaceutical Analyst with Chase H&Q. He earned his Bachelor's degree from Brown University. In his leisure, Mr. Zisson enjoys 'thinking about ways to make his clients money' and playing bridge. Profile
TWST: Jerry, to what do you attribute the outstanding performance of the

small to medium cap specialty pharmaceuticals, generic drugs and drug

delivery stocks in 2000 year to date?

Mr.