| At present,medicine has a trillion market in the world,and the pharmaceutical industry is also one of China's key development industries.The national policy advocates deepening the reform of the pharmaceutical supply sector and encouraging drug innovation.One part of the pharmaceutical industry that can not be ignored for long-term development is drug innovation.The research and development of new drugs can provide a continuous source of power for the development of the pharmaceutical industry.New drug research and development as a process of creating intangible assets,how to evaluate new drug research and development projects,how to measure and evaluate the benefits of the transformation of their research and development results reasonably and reliably,has always been a key concern of the pharmaceutical industry,but also promote the development of the pharmaceutical industry.Important topic.The continuous development of the asset assessment industry has also led to the expansion of its business areas.With the transformation of China's pharmaceutical industry,it will usher in the climax of innovative drugs.The accurate evaluation of the value of new drug projects is of great significance to the development of the pharmaceutical industry.However,due to the multi-stage nature of the drug technology research and development process,high risk,high input,and the inherent defects of the traditional valuation method,it is impossible to evaluate the value of the new drug research and development project more reasonably.Therefore,the research conforms to the value formation of the drug technology research and development project.The method of path evaluation is of great significance.Based on the above background,this paper firstly sorts out related literatures at home and abroad,and studies the theoretical basic knowledge related to the evaluation of new drug research and development projects: R&D project value evaluation,value factors of real option new drug research and development projects,and evaluation of new drug project values,the purpose is to explore Theoretical support related to the value assessment of new drug research and development projects.Then,combined with more authoritative relevant materials,the concepts related to the research and development value of new drugs were sorted out,and the relevant processes of new drug research and development were deeply understood.Based on this,the characteristics of new drug research and development projects were discussed.Then,starting from the process of refining the new drug research and development project,according to the investment dynamic process of the new drug research and development project,find the nodes that the project will chooseto invest or give up,and use these nodes as a series of real options.Then,combined with the multi-stage and uncertainty in the development of new drugs,the risks that may be encountered in the development of new drugs are matched with a series of real options,and a model suitable for the evaluation of the value of new drug research and development is established,so that the new drug research and development project The value is assessed more reasonably.Finally,case studies are introduced,the binary tree method is applied for evaluation,and the evaluation results are interpreted to further optimize and reflect on the evaluation process.Based on the research on the development stage and characteristics of new drug projects,this paper explores the influencing factors of the value of new drug projects,explores the applicability of different methods for the evaluation of new drug projects,and explores models suitable for the evaluation of new drug projects,for investment decision makers and project managers.It is of certain guiding significance to carry out research and development investment in new drug research and development projects,and it can also be used as reference for the construction of new drug project value evaluation system. |
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