【文章內(nèi)容簡介】
This is a retrospection case of developing and marketing a drug using Copeland’s quadranomial approach, adjusted with game theory when potential petitor was considered together.Structure of my paperl 1.The importance of project valuationl 2. The difficulty in valuing pharmaceutical RD projects: expensive and lengthy l 3. Two different attitudes toward uncertainties: NPV and real optionsl 4. Using real options approach to value a project of developing and marketing a drug (A retrospection)Case solution (4 steps in all)l Step 1: Figuring out main uncertainties l Five stages Case solution (4 steps in all)l Step 1: Figuring out main uncertaintiesl Two main uncertainties: 1. technological uncertainties and 2. market uncertainties, which evolve simultaneously through time. Case solution (4 steps in all)l Step 2: Calculating the final nodes cashinflows and the traditional NPV l l l