Shan Hama

Shan Hama joined the team as a graduate in September 2023, recently ramping up coverage in European Small-Mid Cap Biotechnology and Biopharmaceuticals, also providing support to the rest of the team. Michael Leuchten joined Jefferies in June 2025 to lead the European Pharmaceuticals & Biotechnology team. He has over 20 years of experience covering Pharma & Biotech on both the sell- and buy-side, with a more specific focus on European Large-Cap Pharma. Lucy Codrington joined Jefferies in January 2016 and has been covering the Healthcare sector for almost a decade, with expertise in European Small-Mid Cap Biotechnology and Biopharmaceuticals. Benjamin Jackson joined Jefferies in January 2023, primarily aiding European Large-Cap Pharma research, but also working on his own coverage in European Small-Mid Cap Biopharmaceuticals.

What We Are Known For

• Differentiated Insights. Whether it is alternative data, such as our EUTRx analysis, or surveys and expert calls, we bring unique and extensive insights into every corner of our industry.
• Global Access. Complementary to our differentiated insights, we endeavour to bring investors access to management and experts from across the globe, as evidenced by the abundance of conferences and roadshows we host, plus attendance at industry congresses.
• Broad coverage across the market cap spectrum. We are the only house with broad coverage across the large and SMID cap group.
• Anti-Consensual. We are confident in our anti-consensus views and, as a result, lead the debate in areas the market may pay less mind to.
• Expert events and surveys We utilise experts to deliver unique insights on key topics like obesity, dermatology (in particular, atopic dermatitis and hidradenitis suppurativa), injectable aesthetics, psychiatric indications and the US criminal justice system (relevant to opioid-use disorder). We endeavour to collaborate with our US healthcare plus non-sector colleagues to provide broad and differentiated perspectives. We also hope that we have been helpful through the surveys we have conducted, both expert and buy-side, plus our weekly monitoring of US prescription data to frame the debate for markets such as obesity and skin diseases, but also stocks such as Camurus and Orion.