Stephen Barker joined Jefferies in July 2019, extending a 20-year career spanning the finance and pharmaceutical industries. Stephen’s sell-side experience includes roles at UBS, Credit Suisse and CLSA, where he was ranked number one in investor surveys. Stephen worked on the buy side for five years, including a stint as co-manager of an Asia-focused healthcare fund. Stephen’s roles in the pharmaceutical industry include establishing and operating the Japanese subsidiary of a publicly traded European pharmaceutical company. Stephen holds graduate and undergraduate degrees in Biochemistry from Universities in Australia and has pursued post-graduate research in biophysics at the University of Tokyo. 

What We Are/I Am Known For: 

  • Deep understanding of healthcare stock market from global perspective 
  • Detail sector knowledge on development pipelines 
  • A focus on upcoming catalysts, estimating upside/downside of an event 

How We Are/I Am Different: 

  • Otsuka（BUY): Expecting further upside on Abilify Asimtufii and acquisition of Jnana 
  • Takeda （BUY): Reiterating Buy on attractive valuation with multiple catalysts including Ph3 ata readout of TAK-279 for psoriasis and Ph2 POC data presentation of TAK-079 for IgAN. 
  • Toho（BUY): Bullish call on potential capital allocation improvement by activist’s advice. 

Key Research Highlights: 

Corporate & Strategic Access: 

  • Tour: Japan Healthcare Tour (March 2024) 
  • Conferences: Takeda, Nxera, PeptiDream and GNI at Jefferies New York Healthcare Conference (June 2024) 
  • Expert Events: Pharma Patent Litigation call with a p