22January2018Biotechnology4QPreviewandPointsofFocusHealthCareBiotechnologyForecastChangeAsiaNorthAmericaIndustry4QPreviewandPointsofFocusDate22January2018DeutscheBankMarketsResearchWhatWe’reFocusedOnandWhyItMattersWhat’snew?Previewing4QresultsfollowingrecentIndustryconferenceAswelookaheadto4Q17financialresultswenoteitcloselyfollowsperhapsthebusiestweekofthebiopharmayear,whereinadditiontokeyupdatesandseveralpre-announcements,wemetwithmanagementacrossourcoverageuniverseandbeyondtorunthroughexpectationsfor2018aswellasout-yearstrategies.Overall,whilewecontinuetobeoptimisticfollowingthesemeetingsandexpect4Qresultstobemostlyin-linegivencompanycommentaryandRxtrends,weremainselectiveinouroutlookforthesectoroverall,asthenear-termgrowthoutlookamongthelarge-capsremainsatnear-troughlevels,withourmid-capcoveragelikelytobedrivenbycompan