September 21, 2:30 – 3:00 PM EST
Recovering from Long COVID: The CDMO Landscape as it Returns to “Normal”
David H. Windley, CFA, CPA
Managing Director, Jefferies LLC
The obviousness of cycles, and their extremes, seems to only become apparent in retrospect. The post-COVID landscape has brought a full menu of headwinds and tailwinds. COVID demand and production throughput has dropped off faster than vendors expected for a second year in a row. Inventory reductions in the channel have exacerbated some of that volatility. Despite the long (2 yrs+), slow drawdown of biotech funding, mgt teams (and investors) are still surprised in mid-year 2023 that biotech orders have dried up. On the other, GLP-1s have been a much-needed positive, driving new demand for some of the same capacity that COVID is abandoning. We’ll try to make sense of this.
Dave Windley is a managing director and founding member of Jefferies’ Healthcare Equity Research team. Over a 25-year career in investment research, Mr. Windley has covered a broad range of healthcare product and service sectors, including managed care, healthcare information technology, pharmaceutical services, and specialty pharmaceuticals. Dave is a five-time Wall Street Journal Best on the Street honoree and a 6-time Starmine award recipient. Dave is involved in the Nashville financial and healthcare community, having served on boards of the CFA Society Nashville and Owen Graduate School of Management. Dave also enjoys mentoring start-up companies. Dave earned his Masters of Business Administration from the Owen School at Vanderbilt University and his BA from Transylvania University. Dave is a CFA charter holder and certified public accountant.