Study Of Project Management For New Drug Discovery Companies

For a long time, new drug discovery in China lags far behind the world’s advanced level. Since most drug patents of major diseases are held by foreign companies, the Chinese patients cannot be timely and effectively treated. Another awkward situation for Chinese pharmaceutical companies is that the profit we can get from the domestic drug market is limited even though the market in China is huge. Therefore, it is imperative to develop innovative drugs with independent intellectual property rights. However, projects of new drug discovery are characterized by large investment, advanced technologies, long repayment time and high risk. This industry has just started in China, which is facing the difficulties of financial support, experienced professionals and slow industrialization, etc. The successful management system in pharmaceutical industry has not been solidified in China yet.In this dissertation, the international comparison is carried out between the new drug discovery companies, which summaries the critical factors of success in developed countries, figures out the causes of backward in China, aiming to analyze the viable methods of management for new drug discovery projects. This dissertation studies the successful management from three different levels of core technical platform construction, project portfolio management and detail project operation. At the level of technical strategy, building the complete and integrated core technical platform of studying, investigation and producing is the key:including important factors for the platform building, constructing of individual modules, and organization of modules for effective operation. At the level of company strategy, based on the pipelines, project combination of short, middle and long term management is the key: the projects for short term surviving and developing; the projects for middle term continued growth; the projects for long term high profit. At the level of project operating, the appropriate and effective utilization of project management methods and tools is the key:including project topic selection, preparation and initiation, organization and management, controlling of progress, risk managing, finishing and acceptance, etc.With the continuous progress of "National12th five year plan" of major projects and introduction of a series of encouraging innovation policies, new drug discovery is starting to boom in China. Rapid development and encouraging progress are expected in the next ten years. At the early exploring stage of this newly emerging field, this dissertation aims to discuss and summarize the viable management ways to improve the probability of the success of drug discovery industry in China. The author also wishes that this dissertation may provide some insights in drug discovery by sharing personal experience in this industry.