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Healthcare Expertise

FBR’s Healthcare platform is built on deep industry expertise on both the equity research and investment banking sides of the business. This model enables a consistent stream of value-creating ideas for our institutional and corporate clients. Leading distribution capabilities and a strong track record for executing transactions have positioned FBR as the #1 equity underwriter for U.S. companies with market capitalizations under $1 billion.1

FBR Healthcare research covers a range of industry segments that includes biotechnology, healthcare information technology, medical devices, mid- &small-cap pharmaceuticals, patient-centric care, pharmaceutical informatics and senior care. 

Our equity bankers are experienced healthcare industry professionals with former positions as senior equity research analysts, strategic advisors and company executives.

We continue to build out our Healthcare/Life Sciences Investment Banking and Research platform.  In Research, we are committed to providing differentiated, value-added coverage in biotechnology, medical devices and healthcare services.  We publish the Biotech RX Weekly, as well as regular industry overviews and individual company reports.

1) Source: Dealogic. Relates to total deal value of all common stock or common equity, including private placements, offered for all U.S. companies with a market capitalization of $1 billion or less. Transactions priced between 1/1/03 and 12/31/07, with apportioned credit including over-allotment to all book-runners. Includes only rank eligible transactions.

Investment Banking

In November, 2006, FBR Capital Markets co-managed a $1 billion secondary offering for Celgene Corporation, a multinational biopharmaceutical company specializing in therapies treating cancer and immunological diseases through regulation of genomic and proteomic targets. 

Institutional Brokerage

With one of the most knowledgeable sales teams in the industry, FBR Capital Markets’ strong securities distribution capability is based on the buy-side access we have developed through long-term relationships.


Investment Banking Leads

FBR believes that the independence and integrity of our Research team are paramount to our mission. FBR Research is completely independent from FBR Investment Banking.

Research Analysts
  • David Khani, CFA
    Director of Research, Senior Managing Director, Energy & Natural Resources
  • David Hilal, CFA
    Associate Director of Research, Senior Managing Director and Group Head of Technology, Media & Telecom