The Role of Portfolio Management in Pharmaceutical Development

The traditional product lifecycle I think about is we have stuff that gets into development. We make whatever reel to deliver to customers. That's kind of the first key phase. And then we ideally see it grow in the marketplace, picked up by customers and different things. At some point, we see the product decline in the marketplace because competitors are simply doing a better job or customers preferences have changed. So those types of portfolios going back to a living example, you might think about balancing that portfolio that's spent against regulatory approval for a new drug. There are some external factors there.