Bieske Linn, Zinner Maximillian, Dahlhausen Florian, Trübel Hubert
Faculty of Health, Witten/Herdecke University, Germany.
Faculty of Health, Witten/Herdecke University, Germany; The Knowledge House GmbH, Düsseldorf, Germany.
Drug Discov Today. 2023 Oct;28(10):103734. doi: 10.1016/j.drudis.2023.103734. Epub 2023 Aug 10.
Effective portfolio management is crucial for innovation and sustaining revenue in pharmaceutical companies. This article holistically reviews trends, challenges, and approaches to pharmaceutical portfolio management and focuses, in particular, on cognitive biases in portfolio decision-making. Portfolio managers strongly rely on external innovation and face increasing competitive pressure and portfolio complexity. The ability to address biases and make robust decisions remains a challenge. Portfolio management practitioners most commonly face confirmation bias, champion bias, or misaligned incentives, which they seek to mitigate through expert input, team diversity, and rewarding truth-seeking. Ultimately, highest-quality portfolio management decision-making could be enabled by three factors: high-quality data, structured review processes, and comprehensive mitigating measures against biases in decision-making.
有效的投资组合管理对于制药公司的创新和维持收入至关重要。本文全面回顾了制药投资组合管理的趋势、挑战和方法，尤其关注投资组合决策中的认知偏差。投资组合经理严重依赖外部创新，面临着日益增加的竞争压力和投资组合复杂性。应对偏差并做出稳健决策的能力仍然是一项挑战。投资组合管理从业者最常面临确认偏差、拥护者偏差或激励措施不一致的问题，他们试图通过专家意见、团队多样性和奖励追求真相来缓解这些问题。最终，高质量的投资组合管理决策可以由三个因素促成：高质量数据、结构化审查流程以及针对决策偏差的全面缓解措施。
