The Index measures how well Pharma companies deliver profitable, innovative products to the market
For the fourth year in a row, IDEA Pharma has released its Productive Innovation Index (PII). This index measures how well a company performs in bringing a medicine to market successfully. The ranking is designed to answer the question, “If two companies each had the same NCE at the same stage of development, which company would do the best job of commercializing the product?” Inova’s clients make up 6 out of the top 10 companies on the index this year.
The PII 2014 ranked 30 companies based on their performance between 2008 and 2013. Rather than looking turnover figures and approval rates, companies are assessed by their speed to market, attrition rate, reimbursement rates, regulatory approvals, ratio of new product ideas vs ‘me-toos and analyst rankings amongst other indices.
Mike Rea, CEO of IDEA Pharma said, “Some of the companies which talk constantly of ‘innovation’ are surprisingly underwhelming at bringing it to market, but on the flip side there are others – quietly – doing it exceptionally well and we want to applaud them. Productive Innovation measures what matters – the great news is that it matters not just to pharma, but to all of us.”
Gilles Toulemonde, Inova CEO and founder, added, “We are proud that our clients feature prominently in this year’s ranking. Our clients use our software to collaborate effectively as they scout, develop, evaluate and integrate the best opportunities for innovation and growth. The goal is not just to find best opportunity, but to capitalize on it. This requires extensive collaboration between departments and between partners.”
To read more about the Index and view the complete ranking, visit here.