Description
Book SynopsisForecasting for the Pharmaceutical Industry is a definitive guide for forecasters as well as the multitude of decision makers and executives who rely on forecasts in their decision making. In virtually every decision, a pharmaceutical executive considers some type of forecast. This process of predicting the future is crucial to many aspects of the company - from next month''s production schedule, to market estimates for drugs in the next decade. The pharmaceutical forecaster needs to strike a delicate balance between over-engineering the forecast - including rafts of data and complex 'black box' equations that few stakeholders understand and even fewer buy into - and an overly simplistic approach that relies too heavily on anecdotal information and opinion. Arthur G. Cook''s highly pragmatic guide explains the basis of a successful balanced forecast for products in development as well as currently marketed products. The author explores the pharmaceutical forecasting process; the vari
Table of ContentsIntroduction. The Past and the Present: The inaccuracy of forecasting; Forecasting in the pharmaceutical industry; The present state: influences across functions; The time horizon for the forecast; In summary. The Forecasting Process: Define the forecast; Select a forecast method; Enable analytic insights; Present the results; Final considerations. New Product Forecasting: Tools and methods; New product forecast algorithm; Modeling the market; Forecasting the product; Converting patient to revenue; Final considerations. In-Market Forecasting: In-market product forecast algorithm; Trending historical data; Applying the effects of ex-trend events; Converting trended data into forecast outputs; Final considerations. Thoughts for the Future: Era of revitalization; Create stories, not spreadsheets; Hire a science fiction writer; Holistic forecasting. References. Appendices: Spreadsheets paper over real problems; Forecast techniques; Case study; Case study suggested solutions. Index.
