Year: 2003
Type: dissertation
Abstract: As shown in the previous case study, changing the development plan from\nphase/time oriented to question based can improve the insights on the\ninformation that needs to be obtained and will help display the priorities\nwithin the program. In conventional phase-based drug development, timing\nis not the most important issue, as long as studies are performed rapidly.\nIn this thesis, it is shown that the order in which studies are performed has\na significant impact on the efficiency and quality of the drug development\nprocess. The impact of this novel approach can best be demonstrated by\ncalculation of the financial consequences of resolving the right questions at\nthe right time, during the development of new compounds. This calculation\nis based on the real-option theory, applied to drug development questions.\nSimple decision analyses suffice to determine the best sequence of research\nprojects, and detailed pharmaco-economic models are unnecessary for this\npurpose. The thesis also provides some examples of research projects that\nwere performed at different stages of drug development, with widely\ndifferent consequences for the values of the projects concerned
Authors: D. P. Visser, Samuel Jacob
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2567848603