Key components of our new product evaluations include:

1 Peak Sales Potential
   Years after launch, US$, TRX, Market Share %, Units, DTC at peak year

2 10 Year Sales & Profit Forecasts including NPV, DCF, IRR
   Sales, Gross Margin, Royalties, Selling Expense, Medical Expense (Phase IIIb/IV), Health Economics

3 Identification of value drivers and sensitivity analysis (including STAR technique)
   Sales, Price, COGs, Selling Expense, Royalties

4 Development of the Comparative Performance Profile (CPP) (based on real and expected labelings)
  Comparative parameters for efficacy, safety, cost, compliance, health outcome data

5 Determining the "must have" attributes for commercial success
   Based on the comparative performance profile (CPP) we identify "must have" and "must not have" attributes

6 Determining the "relative competitiveness" of a product
   Relative commercial attractiveness based on product profile, CPP, Cost, launch investment and
   anticipated competitive reaction

7 Identification of "analogue" products & markets
   Market size, Market evolutions, Target audience, competitive intensity, generics, launch sequence

8 Development of decision trees to develop road maps for development plans,
  technical probability of success for each phase of development until launch

9 Identification of the "point of no return"
  Cumulative probabilities of success and risk adjusted NPV and sensitivities

Executive Summary

     - New Product Description
        - Disease summary
        - Treatable patients groups
        - Product description (Form / strength, dosage, delivery system
        - Indication and limitations for use
        - Medical Rationale
        - Commercial Rationale
        - Comparative performance profile (CPP)

     - New Product Status and Requirements
         - IP position
         - Pharmaceutical development
         - Clinical development
         - Regulatory status
         - Expected labeling

     - Market Definition
          - Market segments (RX, OTC, hospital, Medicare, Medicaid)
          - Therapeutic Classes (IDC, ATC, NDC)
          - Competitive product & classes

     - Business Case, Project Rationale

     - Key Assumptions
          - Market and competition, market segmentation
          - Market dynamics, competitive intensity
          - Managed care
          - Payor strategy
          - Pricing and reimbursement
          - COGs
          - Marketing & Medical Investments

     - Resource Requirement for successful Launch
          - Cost of acquisition, cost of development
          - Royalties, milestone payments
          - Pre-launch activities and expenses
          - Sales force cost, A&P, Medical Phase IIIb / IV, Health Economics

     - Project Objectives
          - Launch date
          - Estimated peak sales potential at maturity
          - Overall project value (NPV, IRR, NPAV)

     - Risk and Opportunities