Article ID Journal Published Year Pages File Type
173704 Computers & Chemical Engineering 2008 17 Pages PDF
Abstract

The paper presents a multi-stage stochastic programming formulation for the planning of clinical trials in the pharmaceutical research and development (R&D) pipeline. Scenarios are used to account for the endogenous uncertainty in clinical trial outcomes. Given a portfolio of potential drugs and limited resources, the model determines the trials to be performed in each planning period and scenario. To reduce the size of the formulation we employ a reduced set of scenarios without compromising the quality of uncertainty representation. Furthermore, we present a number of ideas that allow us to reduce the number of non-anticipativity constraints necessary to model indistinguishable scenarios. The proposed approach is the first stochastic programming formulation to address this problem.

Related Topics
Physical Sciences and Engineering Chemical Engineering Chemical Engineering (General)
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