Optimal decision indices for R&D project evaluation in the pharmaceutical industry: Pearson index versus Gittins index

2007 ◽  
Vol 177 (2) ◽  
pp. 1105-1112 ◽  
Author(s):  
Michael A. Talias
Keyword(s):  
Pharmaceutical Industry ◽  
Project Evaluation ◽  
Optimal Decision ◽  
Gittins Index

scholarly journals A Simulation Integrated Investment Project Ranking and Selection Approach

2012 ◽  
Vol 2 (2) ◽  
pp. 153-172
Author(s):  
Ozgur YALCINKAYA ◽  
Ozgur ARMANERI
Keyword(s):  
Investment Decision ◽  
Investment Project ◽  
Project Evaluation ◽  
Ranking And Selection ◽  
Optimal Decision ◽  
Selection Procedures ◽  
Investment Projects ◽  
Simulation Based ◽  
Ranking And Selection Procedures ◽  
Project Ranking

Enterprises are confronted with several project alternatives that they assume to gain revenue in the future, but their own economical resources are limited to carry out all alternatives. Therefore, a decision process arises to prioritize and select among alternatives according to the predetermined goals and criteria to reach the maximum utilization. On the other hand, in project evaluation, the values of project parameters are often assumed to be known with complete certainty. However, project parameters normally change during a life cycle of the project, and it is necessary to consider uncertainty and risk phenomena while evaluating projects. Simulation-based project evaluation approaches enable to make more reliable investment decision since they permit to include future uncertainty and risk in analysis process. In this article, a novel simulation-based optimal decision approach is proposed for evaluating and comparing investment projects under uncertain and/or risky environments. The phases of the proposed approach are; (a) developing the effectiveness measure formulation of a project, (b) identifying and checking all controllable project parameters that affect the measure, (c) developing simulation model for the measure, and (d) performing the project ranking and selection procedures in order to rank and select the projects. Three ranking and selection procedures, previously used for comparing performances of the different production/service systems, are embedded in the proposed approach.

Problems Facing the Arab Pharmaceutical Industry: A Case Study from Yemen

2016 ◽  
Vol 2 (4) ◽  
pp. 234-241
Author(s):  
Mohammed Al-Shakka ◽  
Ebtesam Abood ◽  
Adel Al-Dhubhany ◽  
Sami Abdo Radman Aldubai ◽  
Khaled Said ◽  
...  
Keyword(s):  
Pharmaceutical Industry ◽  
Low Income ◽  
Well Being ◽  
Pharmaceutical Products ◽  
Domestic Market ◽  
Raw Material ◽  
Political Crisis ◽  
Pharmaceutical Manufacturer ◽  
University Graduates ◽  
Pharmaceutical Drugs

Because of the almost-instant connection with the welfare and well-being of individuals, pharmaceutical industry stands prominently as a very important factor for the improvement and progress of a healthy productive nation. These days, pharmaceutical industry thrives as one of the largest and exponentially expanding global industries. Nonetheless, millions of people in low income developing countries, have to suffer from the fatal consequences of the inaccessibility and non-availability of essential drugs. This is also happening in Yemen, where the pharmaceutical manufacturers sector have to face up to many challenges. The Yemen Drug Company (YEDCO) was founded in 1964 by the Yemeni government as it collaborated with private investors. It was endorsed as a company with the expertise in the medicinal drug marketing. YEDCO started its work by taking in drugs from foreign companies and then locally marketing and distributing them. In 1982, YEDCO built the first medicinal factory for drugs in Sana’a. Since then, seven companies were set up to manufacture medicines in Yemen. The expanding population has led to the need to have more pharmaceutical products. It may be understandable that pharmaceutical manufacturer companies are also hit by the political crisis in the country. Inadequate amount of fuel and raw material as well as low security status were some of the underlying factors behind these ill-effects in Yemen. Imported drugs make up about nearly 90% % of the pharmaceutical market compared to 10% drugs from the domestic market. This situation has led to an additional burden being shouldered by the national economy, where Yemen spends about US$263 million annually on pharmaceutical drugs, in reference to the national Supreme Drugs Authority. Although there is a very quick growth in the population and drugs consumption, the pharmaceutical industry has not been very active, where global pharmaceutical products play their role dominantly on the domestic market. The pharmaceutical production necessitates skilled human resources like university graduates. By contrast, the government and the private sector should also motivate the pharmaceutical industry and make use of the local employment

Translational medicine

2011 ◽  
Vol 152 (47) ◽  
pp. 1894-1902
Author(s):  
János Antal ◽  
Attila Timár
Keyword(s):  
Pharmaceutical Industry ◽  
Research And Development ◽  
Patient Care ◽  
Computer Modeling ◽  
Translational Medicine ◽  
Scientific Discipline ◽  
Laboratory Research ◽  
Basic Sciences ◽  
Industry Research ◽  
Underlying Basis

Translational medicine is the emerging scientific discipline of the last decade which will set the benchmark for the pharmaceutical industry research and development, integrates inputs from the basic sciences of computer modeling and laboratory research through the pre-clinical and clinical phases of human research to the assimilation of new therapies and treatments into everyday practice of patient care and prevention. With this brief insight authors tried in their humble way to summarize the underlying basis, the present and the potential future of this emerging view, to draw attention to some of the challenges and tasks it faces and to highlight some of the promising approaches, trends and model developments and applications. Orv. Hetil., 2011, 152, 1894–1902.

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