Join us in welcoming David Cornejo, director of data science at Glaxo Smith Kline, as he discusses operations research topics. Alums and friends of the program are always welcome.
https://ncsu.zoom.us/j/93445582296?pwd=FykTWtJLHlZkhaVn6aV4AZrwVmMrF7.1
Meeting ID: 934 4558 2296
Passcode: 051656
The value of stochastic modeling in pharmaceutical R&D decision-making
Pharmaceutical Research & Development is a risky, capital-intensive enterprise. GSK’s Portfolio, Decision Sciences, and Analytics team helps senior R&D decision-makers shape GSK’s portfolio of pharmaceutical & vaccine development projects to capitalize on opportunities and mitigate risks. This presentation will provide an overview of two mechanisms in which the GSK team utilizes stochastic modeling to shape portfolio decisions: 1) Estimation of project Probability of Technical and Regulatory Success (PTRS) and 2) Simulation of pipeline fill-and-flow. Emphasis will be placed on discussion of the business value delivered by these capabilities. For PTRS estimation, we will demonstrate that improved PTRS estimation has increased the value of GSK’s portfolio by >$1b. For fill-and-flow simulations, we will discuss how results are used to evaluate the impact of strategic investments.
David Cornejo is the Director of Data Science within the Portfolio, Decision Sciences and Analytics team at GSK. He is responsible for Data Science innovation, analysis, and data operations supporting portfolio decision-making and strategic planning. He has previously worked as a data scientist for several organizations, including McKinsey & Company and Caterpillar. Cornejo received his Doctorate in Operations Research from NC State where his research focused on applications of simulation modeling and optimization in health policy design.
