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      Decision-making in product portfolios of pharmaceutical research and development – managing streams of innovation in highly regulated markets

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          Abstract

          Decision-making is a core function of any drug development firm. Developing drugs demands a firm to be highly innovative, while at the same time the activity is strictly regulated. Successful drug development offers the right to apply for a long-term patent that confers exclusive marketing rights. This article addresses the issue of what constitutes an adequate portfolio of drugs for a drug development firm and how it might be managed successfully. The paper investigates decision-making in the industry and specifically in the development of oncology drugs from various perspectives: the need for decisions, their timing, decision-making at the project level, the optimal portfolio, tools for portfolio analysis, the evaluation of patents, and finally the importance of the drug portfolio. Drug development decisions as important organizational elements should get more emphasis, and decisions in drug portfolio using modern decision-making methods should be used more widely than what currently happens. Structured, informed decisions would help avoiding late terminations of drugs in Phase III development. An improved research and development pipeline and drug portfolio management are the major elements in the general strategy targeting success.

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          Most cited references 33

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          Managing a Portfolio of Interdependent New Product Candidates in the Pharmaceutical Industry

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            Strategic Management of R&D Pipelines with Cospecialized Investments and Technology Markets

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                Author and article information

                Journal
                Drug Des Devel Ther
                Drug Des Devel Ther
                Drug Design, Development and Therapy
                Drug Design, Development and Therapy
                Dove Medical Press
                1177-8881
                2014
                21 October 2014
                : 8
                : 2009-2016
                Affiliations
                Vaasa Oncology Clinic, Vaasa, Finland
                Author notes
                Correspondence: Antti Jekunen, Vaasa Oncology Clinic, Hietalahdenkatu 2-6, Vaasa, Finland, Email antti.jekunen@ 123456vshp.fi
                Article
                dddt-8-2009
                10.2147/DDDT.S68579
                4211845
                © 2014 Jekunen. This work is published by Dove Medical Press Limited, and licensed under Creative Commons Attribution – Non Commercial (unported, v3.0) License

                The full terms of the License are available at http://creativecommons.org/licenses/by-nc/3.0/. Non-commercial uses of the work are permitted without any further permission from Dove Medical Press Limited, provided the work is properly attributed.

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