Tell us about your practice.
I practice healthcare law almost exclusively in the "specialty drug and device" space. A specialty drug or device is generally any drug therapy that requires special treatment — for example, it is really expensive (i.e. over $100,000 for treatment), for a rare disease, has an odd treatment regime, or is difficult to get reimbursed by insurance. I spend a lot of my time assisting with strategic development of business relationships, like limited drug distribution networks, patient service offerings between manufacturers and pharmacies, as well as mergers and acquisitions. This includes helping to develop the relationships in accordance with regulations drafting the associated contracts.
What is an interesting trend happening right now related to your field of practice?
The specialty pharmacy market ebbs and flows with regard to M&A activity; we are in a flow right now. We are seeing private equity and vertical strategic buyers have the most interest. Private equity funds often look to aggregate pharmacies to create an enterprise with a sum greater than its parts, while vertical strategics bank on market synergies to increase asset value. It is fascinating to be a part of those acquisitions and later integration activities. It provides great insight into industry economic and supply chain trends.
You've attended the Asembia Specialty Pharmacy Summit for several years. What do you always look forward to and enjoy about this event?
During Asembia, the entire specialty industry converges in one spot. It is great opportunity to catch up with many industry colleagues (and really friends) that I often only get to see a couple of times a year. I also get to meet new people and learn about their businesses, which is always a delight. Also, each conference really develops its own voice. After the first or second day, one starts to hear that voice and get a feel for what is on peoples' minds at an industry level. It's a deep dive that is an absolute must for giving clients the industry insight and staying current.