This paper seeks to clarify the theory of project based organisations by highlighting a previously overlooked organizational form - temporary project based firms that are valued for their capabilities rather than their products. Such firms exhibit different characteristics from firms in existing...

The success of any project depends on various issues like completing the project in time and budget with quality, satisfying the customer. Though begun slowly, pharmaceutical industry has been aggressively implementing project management practices to handle projects systematically and in a...

In pharmaceutical R&D, decision makers face a large portion of uncertainty in portfolio decisions. Existing optimization tools are mostly based on expected values, ignoring uncertainty, and most often deliver a single, "best" selection of projects. A decision tree approach can aid decision...

Current business models have struggled to support early-stage drug development. In this paper, we study an alternative financing model, the mega-fund structure, to fund drug discovery. We extend the framework proposed in previous studies to account for correlation between phase transitions in...

How does a firm’s market power in existing products affect its incentives to innovate? We explore this fundamental question using granular project-level and firm-level data from the pharmaceutical industry, focusing on a particular mechanism through which incumbent firms maintain their market...