For biotechnology or pharmaceutical firms, development presents a significantly risky prospect. Development times are usually prolonged by step-wise clinical trials, and there is only a 20% chance that a new drug beginning clinical trials will ever reach the market. Nevertheless, the potential return can reach billions of dollars. For startup companies, it is crucial that […]
Tag Archives: drug development
Using @RISK for a Drug Development Decision: a Classroom Example
At Illinois State University, Associate Professor of Finance Domingo Joaquin uses @RISK to demonstrate how simulation modeling can be employed to support the R&D decision of a pharmaceutical firm, illustrating countless risk evaluation examples to students. Dr. Joaquin uses the example of the fictitious company “Drugco”, which has just successfully completed Phase I and Phase […]
