A look into the metrics behind the Pharmaceutical Innovation and Invention IndexWritten by Eneida Bushi — 2022-04-21.
The Invention Index, released for the first time in 2019, and now in its 4th year, intends to examine pipeline invention and measure pipeline novelty in Pharma by taking a focused look at the breadth and depth of novel agents currently being developed within the most innovative Pharma pipelines. This index, provides a more forward-looking view of who is developing medicines that matter, embracing science and innovations in R&D.
For each company, the Invention Index assesses the size of its novel drug pipeline relative to its marketed drug portfolio, as well as the degree of advancement and breadth of investigation in clinical development. Additionally, the Invention Index assess the proportion of regulatory designations granted to novel pipeline drugs, as well as the proportion of R&D investment. Finally, the Index tracks all publicly announced stories and events related to novel pipeline agents.
The Pharmaceutical Innovation Index, now in its 11th year, ranks companies for their ability to add value to or derive value from their pipeline. Fundamentally, it seeks to answer this thought-provoking question: ‘If two pharma companies were given the same asset in phase I, which of the two would be more innovative in developing and launching the product?”.
The Innovation Index ranks companies by their ability to bring products from Phase I to market and commercialize them successfully, by utilizing a range of clinical, regulatory, and commercial metrics ranging from the corporate level down to individual product decisions and outcomes.
The Innovation Index tracks novel drug approvals, as well as the percentage of sales generated by new products (i.e., pharmaceutical products launched in the last 5 years). This Index also measures financial performance, and monitors company websites, annual reports, and industry sites to identify key events related to (but not limited to) label expansions of currently approved branded products, progression of assets to next phase of development, and study successes/ failures.
The Pharmaceutical Innovation and Invention Index leverages a wide range of data analytics, along with tracking of company and third-party stories on key events impacting company pipelines and portfolios. This “behind the scenes” crunching of the thousands of data points enables the creation of the industry’s most robust index that ranks innovation in Pharma.
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2023 Pharmaceutical Innovation & Invention Index
When we published the 11th annual Pharmaceutical Innovation and Invention Index in 2022, the world was still in the grip of COVID-19. The 12th Index – unsurprisingly – carries residue from that global event.Read article