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Stephen McGarry


Dr. Stephen McGarry joined Putnam in June 2023. He has a First Class Honours Degree in Pharmacology from the University of Glasgow and a PhD in Pharmacology from the University of London. Steve has been an equity research analyst, working for investment banks for over 20 years, including as Head of European Healthcare research at Goldman Sachs and Global Head of Healthcare Research at Societe Generale and HSBC.

His research has spanned small to large cap Pharma companies and biotech companies across the US, Europe and Asia. His capabilities include detailed forecasting and the valuation of existing and new products across multiple therapeutic areas, detailed R&D pipeline analysis and the strategic analysis of R&D pipelines for partnering and licensing opportunities. He has also worked extensively on investment banking mandates for pharmaceutical and biotech companies including equity and debt fund raisings and on M&A transactions, including due diligence for acquisitions and licensing of individual R&D assets as well as acquisitions of companies, on asset swaps and on product or divisional divestments.