To evaluate the R&D productivity of the world’s 30 largest public pharmaceutical companies, as judged by total pharmaceutical sales, the Catenion methodology takes an approach that focuses on value. We compared the total R&D spending from 2005 to 2015 including costs from M&A (see below) and a 7% cost of capital with the total expected net present value (eNPV) today of compounds marketed in the last five years and all pipeline products.
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