Steering a course through the technology maze

Many of the new technologies currently transforming the way in which pharma ceutical R&D is performed consume far more cash and resources than traditio nal 'wet' bench science. They also carry a high degree of risk. It is there fore crucial that the industry finds systematic methods of evaluating them effectively. This article examines the strategic perspective and internal p rocesses companies should adopt to ensure that they spend their money wisel y. It also outlines a three-tier approach, based on decision analysis techn iques, for objectively assessing specific technology options - including di scovery technologies, which are notoriously difficult to evaluate - to buil d a technology portfolio.