Oceňování biotechnologických podniků

This thesis deals with methodology of valuation of biotechnology companies and assets. At the beginning, biotechnology sector is defined, the process of drug research and development is briefly described, and other sector relevant facts are laid out. The author suggests and explains approach, methodology and process of a biotechnology company and asset evaluation. The methodology and valuation process are described using relevant sector data which are presented as result of a brief research. In the final part, sector discount rates are analysed. The author is basing the methodology of estimating the cost of capital on high R&D intensity observed in the biotechnology sector. At the end of the thesis, a short case study evaluating a biotechnology firm and its assets is presented.