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A decision analytic approach to a futility analysis of a phase II pharmaceutical study
1Wyeth-Ayerst Research, Clinical Biostatistics, Philadelphia, Pennsylvania 19101, USA. pallaya@war.wyeth.com
Abstract:
In this paper we describe a decision analytic approach to doing a futility analysis of a phase II study on a drug under development. For this analysis we build a model that estimates the expected monetary value of the drug and the expected costs of development. These statistics are used to help decide whether to continue the study.
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