Written by Michael Ringel, Colm Foley and Olivier Wierzba for Boston Consulting Group (BCG).
The five-year period covered in this report was a stormy time for the bio-pharma sector. While sales growth remained strong, expectations for future growth declined significantly. P/E ratios for large-cap biopharma, a formidable 35x in 2000, plunged to 11x by 2010.
