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Tytuł pozycji:

Developing an Improved Risk-Adjusted Net Present Value Technology Valuation Model for the Biopharmaceutical Industry

Tytuł :
Developing an Improved Risk-Adjusted Net Present Value Technology Valuation Model for the Biopharmaceutical Industry
Autorzy :
Sung, Tae-Eung
Woo, Jonghak
Kim, Eungdo
Lee, Jongtaik
Shin, Kwangsoo
Lee, Jeonghee
Pokaż więcej
Temat :
Management. Industrial management
risk adjusted valuation
likelihood of approval
HD28-70
HF5001-6182
Business
net present value
possibility of success
discounted cash flow
clinical trials development period
Źródło :
Journal of Open Innovation: Technology, Market and Complexity, Vol 5, Iss 3, p 45 (2019)
Journal of Open Innovation: Technology, Market, and Complexity
Wydawca :
MDPI AG, 2019.
Rok publikacji :
2019
Kolekcja :
Datacite
Multidisciplinary_Digital_Publishing_Institute
DOAJ-Articles
Opis pliku :
application/pdf
Język :
English
ISSN :
2199-8531
DOI :
10.3390/joitmc5030045
Numer akcesji :
edsair.dedup.wf.001..eb710eeba299369d021f1b879bb9da87
The financial valuation of a drug that is still under development is required for various purposes. The risk-adjusted net present value (r-NPV) method, which recently emerged in the biotech industry, uses the development attrition rate as a discount factor to reflect risk during each development phase. The r-NPV method was developed to overcome the disadvantages of the prevailing discounted cash flow and real options methods and considers drug type, as well as the stage of development in its approach. Using this method, the current study examines technology values in the biopharmaceutical industry and matches the clinical development periods and success rates of these new drugs by analyzing datasets from ClinicalTrials.gov and MedTrack DB. It thus provides support for an empirical valuation model for experts in the field. Notably, there is limited research on the attrition rate and development period of new substance drugs and the research results are not consistently presented. In addition to new substance drugs, further research is necessary to deepen understanding of the attrition rate and development period of biologically-based drugs because of their inherent physical and developmental differences. Similarly, research on performance specifics within drug class models would enable refinement of the model.

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