How is the EY-Parthenon Life Sciences practice?
3
Anyone working at ProcDNA ? I've heard negative reviews about the company and wanted to get perspectives from current or former employees. One thing I've heard repeatedly is that company may be leveraging materials, frameworks and approaches commonly used at ZS Associates but delivering at lower cost. How accurate is this perception ? what is the reality in terms of project quality, client work, leadership and growth ? would appreciate honest feedback
For those who have escaped to industry, curious how WLB differs between consulting and some of the more high-visibility functions like BD/CorpDev at a larger biotech with a reputation for intensity like a BridgeBio or similar? Versus say a supporting role in insights or forecasting? I understand a lot is manager and company dependent but curious the range of folks' experience. Thanks in advance
Going downhill
I've never heard of them
Most of the partners were brought over from Navigant when leadership at EY roofied themselves one weekend and made the dumbest deal in recent history. Not a single one has any experience greater than weak market research and brand strategy - nothing remotely relevant to Big 4. Zero operations, zero deal flow, zero cost takeout, zero financial skills - just nothing. I know them all, worked with them for years. All the bodies, all the locations… PwC has the best Big 4 LS practice - and that’s a stretch. KPMG has brought over some good leads but the work is pretty much all cost takeout deal DD.
If you want to do deals or PE, it’s good. Strategy is horrible. They only really do peripherals like CRO, CDMO, etc. no true pharma strategy and also a ton of people have left the LS strategy practice in the past few months.
Honestly I have no idea. But a senior director did tell me a couple of years ago that EYP would never do true LS strategy cause they can’t ever compete with M/B in that space. Which is why they’ve always focused on pharma services. Even at peak, there were only 5-6 life science “strategy” partners and half if not more of their portfolio was deal management and/or diligence. Ever since EY bought Parthenon, they’ve continued to dilute the brand and shifted farther and farther away from strategy.