“Quantitative Decision Making and the Use of Probability of Success in the Pharmaceutical Industry”
Featuring: Dr. Olivier Collignon (Statistics Director, GSK)
Wednesday, February 19th 8:00 AM – 9:00 AM PT | 11:00 AM – 12:00 PM ET
Abstract:
Drug development is a long, costly and risky endaveour. With an average cost of over $1–2 billion for new compounds and a development time spanning in general over more than 10 years, attrition rate can raise up to 90% from Ph1 to Ph3.
In order to circumvent this, there has been a growing effort in large pharmaceutical companies in general to implement quantitative methodologies allowing to make data-driven decisions routine, compute the probability of success of the clinical development plans and predict risk more accurately.
In this session, we will present the Quantitative Decision Making framework used by GSK for key portfolio decisions. We will share some common learnings gathered from leaders in the fields but also introduce some key areas of improvement.
Speaker:
Dr. Olivier Collignon (Statistics Director, GSK)
Dr Olivier Collignon is a Director of Statistics at GSK in the United Kingdom. After several years in immunology, he leads now a team of statisticians who contribute to the development of vaccines for various respiratory diseases. He holds a PhD in Applied Mathematics and is especially interested in the use of complex innovative designs and their regulatory uptake. He previously worked as a biostatistician in France and Luxembourg for more than 15 years and has been seconded at the European Medicines Agency, where he gained regulatory insight. At GSK, Olivier has been heavily involved in the implementation of the Quantitative Decision Making framework the company uses to take data-driven informed decisions.