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Case Study: Early-Stage Asset Valuation

The rewards of developing a new drug can be very attractive but they come with inherent risks. It is important to ensure that investment decisions on clinical development are made after examining the risk profile of the drug which depends on the therapy area and the nature as well as extent of unmet needs. EVERSANA APAC Leadership recently supported a client to help them make a right decision on how to invest and when to license.

Our client was developing an early stage asset in an immunology indication. The drug was still in pre-clinical stages and would take about ten years to launch in an already crowded market. Since the launch was years’ away, our client was concerned regarding the opportunity of the asset at the time of launch. It wanted to understand the asset’s value and risk to help them take clinical and commercial decisions like whether to continue development or change clinical strategy or out license the product at this stage.

EVERSANA’s approach enabled the client to understand the clear differentiators between its Asset and competition as well as understand the drivers of value and their effects on Asset NPV.

Understanding these effects gave our client the confidence to change its development decisions. Our approach showed them that by bringing forward the comparator study and slightly increasing risk, they could greatly increase the Asset’s value.

As a result, they chose to change the study program and keep the asset in-house, instead of licensing out, thus adding almost $1 billion to shareholder value.





このケースでは、クライアントは約10年後の上市を見据えた自己免疫領域の新薬を開発中です。クライアントは開発品のの価値を最大化する開発戦略を立てる必要があります。 競争の激しい自己免疫疾患市場においてエバサナはどのようにしてクライアントの早期開発品の価値を最大化したのでしょうか。



  • 早期開発品の発売を予測する際に、不確実な市場をどのように考慮すべきか?
  • 不確実性に直面した場合、どのように開発の選択をすべきか?
  • 臨床試験の最適なタイミングと順番は?
  • リスクとアップサイドのバランスを考えた場合、製品の開発を継続する価値はあるのか?
  • リスクを軽減し、アップサイドを高めるためにはどうすればいいのか?

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“Case Study: Early-Stage Asset Valuation”
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Author Team

EVERSANA employs a team of over 6000 professionals across 40+ locations around the world. From industry-leading patient service and adherence support to global pricing and revenue management, our team informs the strategies that matter…