Healthcare >> Analyst Interviews >> May 27, 2003

Specialty Pharmaceutical Companies: Andrew Forman – Friedman, Billings, Ramsey Group Inc

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
TWST: Can we start out with a quick overview of your coverage?

Mr. Forman: I run the healthcare research group at Friedman,

Billings, Ramsey, so strategically I'm responsible for putting