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home > ebr > winter 2001 > real options evaluation in pharmaceutical r&d: a new approach to financial project evaluation
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European Biopharmaceutical Review

Real Options Evaluation in Pharmaceutical R&D: A New Approach to Financial Project Evaluation

The financial literature relating to options is daunting, both because of its volume and, in large part, its technical nature - the latter only rendered more obscure by the associated jargon. For those courageous enough to wade into the depths of this literature, frustration will be experienced both in extracting information relevant to pharmaceutical R&D and, even more so, in applying it. Thus, Dr Kerstin M. Bode-Greuel (the author of this report) is unusually well-equipped to act as a guide through the wilderness for the following reasons:


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A Review by Dr Roy Drucker, General Manager at Technomark Consulting Services Ltd

Roy Drucker joined the European R&D arm of Sterling Drug Inc as a Medical Advisor. He was promoted to being responsible for clinical pharmacology, drug metabolism and bioanalysis in Europe. In 1986 he moved to the Upjohn Company, subsequently Pharmacia & Upjohn, Inc., where he held a range of international responsibilities. His positions there included Director of Marketing with responsibility for worldwide marketing of cardiovascular products; Executive Director, European Community Affairs and Business Systems; and Vice-President, Drug Development, with global responsibility in multiple therapeutic areas for clinical drug development and medical support for marketed products.
A graduate of the Harvard Business School Advanced Management Program, Member of the Securities Institute and an FSA registered Approved Person, Roy has been based in Belgium, the UK, and the US. Roy has been General Manager of Technomark since September 1996.

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