The Royalty Rate Report 2013 PharmaDeals（2013 PharmaDeals提成率报告）.pdf

SYNDICATED ANALYTICS | PHARMADEALS The Royalty Rate Report 2013 A comprehensive assessment of valuation in the pharmaceutical sector A PharmaDeals Report edited by Heather Cartwright Taskin Ahmed The Royalty Rate Report 2013 A Comprehensive Assessment of Valuation in the Pharmaceutical Sector Edited by Heather Cartwright and Taskin Ahmed Copyright © 2013 IMS PharmaDeals Ltd Published by PharmaDeals Ltd, now part of IMS Health 210 Pentonville Road, London N1 9JY, UK Contents Preface 80 3.8 The Basics of eNPV and NPV Calculation 52 3.8.1 Cash Flows 52 Introduction 9 3.8.2 Relevant Costs 52 3.8.3 Real versus Nominal Figures 53 3.8.4 Opportunity Cost/Time Value 54 Chapter 1 3.9 Risk 55 History 16 3.9.1 Decision Tree Analysis 56 1.1 Royalties: In the Beginning 16 3.10 A Further Refi nement of the eNPV Model: 1.2 Mining and Petroleum 17 Sensitivity Analysis 57 1.3 Royalties: Incentives and Disincentives 17 3.11 Development Cash Burn 59 1.4 Royalties by Industry Sector 18 Chapter 4 Chapter 2 Data and Trends 64 Thought Leadership 21 4.1 Disclosure of Royalties: Why the Big Secret? 64 2.1 Deconstructing Dea