Формирование стратегических альянсов в инновационном секторе экономики: подход опционных игр в биофармацевтической отрасли

Известия Дальневосточного федерального университета. Экономика и управление. 2017. Т. 4. № 84. С. 102–111.

Khabibullina A.

In the last decade, the model of conducting pharmaceutical business has undergone changes. Increased R&D spending and growing difficulty of researching and developing drug process encourage innovative companies looking for other ways to increase their value. The business landscape, where pharmaceutical and biotechnology companies operate, allows them to use a model of strategic partnerships, focused on cooperation in the R & D field and a more flexible approach to managing intellectual property. An early arrangement in the partnership entails a lower level of risk and more successful results which biotech firm can reach because of the sufficient amount of financial resources coming from the pharmaceutical firm, but the later agreement can help the biotech firm to better monetize the final market. This research introduces and analyses the alliance formation in biotechnology industry by modelling the decisions of whether and when ally with a pharmaceutical company through a real options game. For the Russian reality, with a lack of efficient mechanism for start-ups, the evaluation and study of partnership models is one of the key success factors for pharmaceutical industry.

Keywords: венчурные инвестиции, strategic partnership, cooperative games, кооперативные игры, venture investments, стратегические партнерства, biopharmaceutics, real options theory, теория реальных опционов, биофармацевтика