Number of New Patents Filed KPI in Pharmaceuticals & Biotech

This document details the "Number of New Patents Filed" Key Performance Indicator (KPI) within the Pharmaceuticals and Biotech industry. It covers data requirements, calculation methodology, application of an analytics model, and business value.

Data Requirements

To accurately calculate the "Number of New Patents Filed" KPI, the following data is required:

• Patent Application Data:

  This is the core data set and includes:

  • Application Number:

    A unique identifier for each patent application.

  • Filing Date:

    The date on which the patent application was officially submitted.

  • Applicant Name:

    The name of the company or entity filing the patent.

  • Patent Title:

    A brief description of the invention being patented.

  • Technology Area/Classification:

    Categorization of the invention (e.g., therapeutic area, drug delivery system, etc.).

  • Status:

    The current status of the patent application (e.g., pending, granted, rejected).

  • Jurisdiction:

    The country or region where the patent is being filed.

• Data Sources:
  • Internal Patent Databases:

    Most pharmaceutical and biotech companies maintain internal databases to track their patent filings.

  • External Patent Databases:

    Public databases like the USPTO (United States Patent and Trademark Office), EPO (European Patent Office), WIPO (World Intellectual Property Organization), and national patent offices of various countries.

  • Commercial Patent Data Providers:

    Companies that aggregate and provide patent data for a fee.

Calculation Methodology

The calculation of the "Number of New Patents Filed" KPI is straightforward:

1. Define the Time Period:

   Determine the specific time frame for which you want to calculate the KPI (e.g., monthly, quarterly, annually).

2. Filter Data:

   From the patent application data, filter records based on the "Filing Date" that falls within the defined time period.

3. Count Unique Applications:

   Count the number of unique "Application Numbers" within the filtered data set. This represents the number of new patent applications filed during the specified period.

Formula:

Number of New Patents Filed = Count (Unique Application Numbers where Filing Date is within the specified time period)

Example:

If a company filed 15 new patent applications in Q1 2024, the "Number of New Patents Filed" KPI for Q1 2024 would be 15.

Application of Analytics Model

An AI-powered analytics platform like "Analytics Model" can significantly enhance the calculation and analysis of this KPI:

• Real-Time Querying:

  Users can use free-text queries to extract the required data from various sources. For example, a user could query: "Show me the number of new patent applications filed by our company in the last quarter.

• Automated Data Aggregation:

  The platform can automatically aggregate data from internal and external patent databases, eliminating the need for manual data collection and consolidation.

• Automated Insights:

  The platform can identify trends and patterns in patent filing activity, such as:

  • Changes in filing rates over time.

  • Areas of technology where the company is most active in patenting.

  • Comparison of patent filing activity with competitors.

• Visualization Capabilities:

  The platform can generate charts and graphs to visualize the KPI, making it easier to understand and communicate the data. Examples include:

  • Line charts showing the trend of patent filings over time.

  • Bar charts comparing patent filings across different technology areas.

  • Geographic maps showing the distribution of patent filings across different jurisdictions.

Business Value

The "Number of New Patents Filed" KPI is a crucial indicator of innovation and intellectual property (IP) strength within the pharmaceutical and biotech industry. Its business value includes:

• Measuring Innovation Output:

  It directly reflects the company's ability to generate new inventions and protect them through patents.

• Strategic Planning:

  It helps identify areas of research and development (R&D) where the company is most innovative and where it needs to focus more resources.

• Competitive Benchmarking:

  Comparing patent filing activity with competitors provides insights into their innovation strategies and technological advancements.

• Investor Relations:

  A strong patent portfolio is a valuable asset that can attract investors and enhance the company's valuation.

• Licensing and Collaboration Opportunities:

  A robust patent portfolio can create opportunities for licensing agreements and collaborations with other companies.

• Risk Management:

  Monitoring patent filings helps identify potential IP risks and allows the company to take proactive measures to protect its inventions.

• Decision-Making:

  This KPI informs decisions related to R&D investments, technology acquisitions, and strategic partnerships.

In conclusion, the "Number of New Patents Filed" KPI is a vital metric for pharmaceutical and biotech companies. By leveraging an AI-powered analytics platform like "Analytics Model," companies can gain deeper insights into their innovation activities, make data-driven decisions, and ultimately achieve better business outcomes.