Varun Malhotra is a director in the Valuation Advisory Services practice, based in the London office. He focuses on the healthcare sector with an emphasis on pharmaceutical and life sciences and has over eight years of experience across the sector.

Prior to joining Duff & Phelps, Varun was a pharmaceutical and biotechnology equity analyst with Bank of America Merrill Lynch in London. Before that, he was a manager in EY’s Valuation, Modelling and Economics practice.

Varun’s experience includes working in university labs, for a global health think tank, and in healthcare consulting and equity research. He has performed valuations of intangible assets, primarily intellectual property rights of drugs, medical devices and diagnostics for startups, mid-cap and blue-chip pharmaceutical companies. His clients have also included pension funds and alternative investment fund managers. His experience in valuations includes equity and asset valuations for tax purposes; estimating fair value of intangible assets; goodwill impairment tests; fairness opinions; and purchase price allocations under IFRS and U.S. GAAP.

Varun also has experience in business modelling, commercial due diligence and technology assessments in the healthcare and pharmaceutical sectors. He has worked for national governments and pharmaceutical industry associations on multi-year and multibillion-dollar drug budget negotiations. His other projects have involved forensic accounting for national health service providers and return on investment for well-known not-for-profit organizations.

Varun received a master’s degree in public policy and econometrics from the London School of Economics where he studied as a Rotary Ambassadorial scholar, a Master of Public Health from the London School of Hygiene and Tropical Medicine and a Bachelor of Science with honors in biomedical computing from Queen’s University in Canada. He is a Chartered Financial Analyst charterholder and fluent in Hindi and English.

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