标题： 以辉瑞当前组合为例研究收入后生物制药资产的估值 显示英文标题

标题： Valuing Post-Revenue Biopharmaceutical Assets with Pfizer's Current Portfolio as a Case Study

摘要： 这项研究论文解决了在生物技术和制药行业中准确评估收入后药物资产的关键挑战，这是影响广泛战略运营和投资决策的关键因素。 认识到可靠估值对于制药公司、风险投资者和私募股权公司等利益相关者的重要性，本研究引入了一种新的模型，用于预测收入后生物制药资产的未来销售额。 该模型利用历史销售额数据，这一资源以其高质量和在公司财务记录中的可获得性而著称，以生成单个资产累计销售额的分布估计值。 这些估计值对于计算每个资产的净现值至关重要，从而有助于做出更加明智和战略性的投资决策。 通过在分析辉瑞公司收入后资产组合中的实施，展示了该模型的实际应用。 这种精确性突显了该模型在生物技术和制药行业内的财务评估和决策过程中的潜在价值，提供了一种系统的方法来识别投资机会并优化资本配置。 显示英文摘要

摘要： This research paper addresses the critical challenge of accurately valuing post-revenue drug assets in the biotechnology and pharmaceutical sectors, a key factor influencing a wide range of strategic operations and investment decisions. Recognizing the importance of reliable valuations for stakeholders such as pharmaceutical companies, venture capitalists, and private equity firms, this study introduces a novel model for forecasting future sales of post-revenue biopharmaceutical assets. The proposed model leverages historical sales data, a resource known for its high quality and availability in company financial records, to produce distributional estimates of cumulative sales for individual assets. These estimates are instrumental in calculating the Net Present Value of each asset, thereby facilitating more informed and strategic investment decisions. A practical application of this model is demonstrated through its implementation in analyzing Pfizer's portfolio of post-revenue assets. This precision highlights the model's potential as a valuable tool in the financial assessment and decision-making processes within the biotech and pharmaceutical industries, offering a methodical approach to identifying investment opportunities and optimizing capital allocation.