An Open Innovation Decision Support System to Select a Biopharmaceutical R&D Portfolio

Research output: Contribution to journalArticle

7 Citations (Scopus)

Abstract

Drugs available in the market today, selected several years ago under very uncertain futurescenario, have experienced a long and expensive process of research and developmentcarried out following both a closed and an open innovation path. To support this criticalselection process, we propose a Decision Support System, able to choose among differentcandidates the most promising drugs along their best development path. The DecisionSupport System, based on a real options portfolio optimization model, mapping tools, andwhat-if rules as well, has been applied to a numerical example available in literature, andthe research findings show interesting managerial and academic implications
Original languageEnglish
Number of pages15
JournalManagerial and Decision Economics
Publication statusPublished - 2015

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Decision support systems
Innovation
Biopharmaceuticals
Open innovation
Drugs
Optimization model
Development path
Real options
Portfolio optimization

All Science Journal Classification (ASJC) codes

  • Business and International Management
  • Strategy and Management
  • Management Science and Operations Research
  • Management of Technology and Innovation

Cite this

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title = "An Open Innovation Decision Support System to Select a Biopharmaceutical R&D Portfolio",
abstract = "Drugs available in the market today, selected several years ago under very uncertain futurescenario, have experienced a long and expensive process of research and developmentcarried out following both a closed and an open innovation path. To support this criticalselection process, we propose a Decision Support System, able to choose among differentcandidates the most promising drugs along their best development path. The DecisionSupport System, based on a real options portfolio optimization model, mapping tools, andwhat-if rules as well, has been applied to a numerical example available in literature, andthe research findings show interesting managerial and academic implications",
author = "Azzurra Morreale and {Lo Nigro}, Giovanna and Lorenzo Abbate",
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N2 - Drugs available in the market today, selected several years ago under very uncertain futurescenario, have experienced a long and expensive process of research and developmentcarried out following both a closed and an open innovation path. To support this criticalselection process, we propose a Decision Support System, able to choose among differentcandidates the most promising drugs along their best development path. The DecisionSupport System, based on a real options portfolio optimization model, mapping tools, andwhat-if rules as well, has been applied to a numerical example available in literature, andthe research findings show interesting managerial and academic implications

AB - Drugs available in the market today, selected several years ago under very uncertain futurescenario, have experienced a long and expensive process of research and developmentcarried out following both a closed and an open innovation path. To support this criticalselection process, we propose a Decision Support System, able to choose among differentcandidates the most promising drugs along their best development path. The DecisionSupport System, based on a real options portfolio optimization model, mapping tools, andwhat-if rules as well, has been applied to a numerical example available in literature, andthe research findings show interesting managerial and academic implications

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