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

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