Project selection for a portfolio is a pivotal decision in the pharmaceutical industry. In this paper, we study a portfolio optimization problem for pharmaceutical companies considering the uncertainty of the cost of each phase of drug development and the specific value of the annual budget. The presented optimization model is suitable to make investment decisions for multi-phase drug development projects and a stochastic approach is applied to handle the uncertainty in the model. Post-optimality analysis for annual budget is studied. An illustrative example is included to demonstrate the presented approach.

中文翻译：

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机会约束型方法在成本不确定性下的药品组合优化

项目组合的项目选择是制药行业的关键决定。在本文中，我们考虑到药物开发各阶段成本的不确定性和年度预算的特定值，研究了制药公司的投资组合优化问题。提出的优化模型适合于多阶段药物开发项目的投资决策，并且采用随机方法来处理模型中的不确定性。研究了年度预算的优化后分析。包括一个说明性示例来演示所提出的方法。