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Driving personalized medicine: capturing maximum net present value and optimal return on investment
Mollie Roth1, Peter Keeling2, Dave Smart3
1Corporate Counsel VP-Business Development Diaceutics. mollie.roth@diaceutics.com.
Personalized Medicine
|May 23, 2018
Summary
Developing effective financial models is crucial for the success of personalized medicine. This report details a benchmarking and financial model to optimize targeted therapy development and market adoption.
Area of Science:
- Pharmacoeconomics
- Drug Development
- Personalized Medicine
Background:
- Personalized medicine holds significant future promise, necessitating a focus on current foundational work.
- The early stages of targeted therapies require robust benchmarking and financial models for effective development.
- Current drug development teams need tools to identify success drivers and financial metrics for targeted therapies.
Purpose of the Study:
- To introduce a specific benchmarking and financial model tailored for the personalized medicine field.
- To demonstrate how such models can optimize the development and adoption of targeted therapies.
- To guide resource allocation for maximizing the return on investment in personalized medicine.
Main Methods:
- Description of a novel benchmarking and financial model.
- Application of financial metrics for resource allocation.
- Analysis of drivers for successful launch and adoption of targeted therapies.
Main Results:
- The proposed model aids in capturing maximum net present value for targeted therapies.
- It facilitates optimal return on investment through informed resource allocation.
- Identifies key drivers crucial for the successful market entry and uptake of personalized medicines.
Conclusions:
- A dedicated financial and benchmarking model is essential for advancing personalized medicine.
- Implementing such models can significantly enhance the commercial viability of targeted therapies.
- This approach supports the realization of personalized medicine's full potential.
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