In the context of an investor-state proceeding under UNCITRAL rules, CRA provided a valuation of the local operations in Latin America of a multinational pharmaceutical company. CRA assessed the going-concern value of the company, inclusive of working capital, based on a forecast of product sales prepared prior to the threatened expropriation. The valuation took into account the expected performance of the company’s portfolio of top-selling products for a period of time beyond the company’s projections, basing future sales on sales growth rates observed for other products over the lifecycle. CRA discounted cash flows at a rate inclusive of a country risk premium, and included a quantification of prejudgment interest and costs incurred by the company in addressing the threatened expropriation.
Damages in Life Sciences Arbitrations
Gregory K. Bell, Andrew Tepperman, and Justin Ho contributed a chapter to Global Arbitration Review’s The Guide to Damages in International Arbitration. Their...