Abstract
The business models of major pharmaceutical companies increasingly include external R&D elements that range from the acquisition of drug projects, traditional collaborations with academic institutions, multi-year research partnerships, crowdsourcing, centers for R&D excellence, open source innovation, virtual R&D and public private partnerships. Commonly known as “open innovation”, these new virtual forms of organizing innovation processes challenge the traditional, established inhouse-only R&D paradigm. An outlook of the rise of corporate venture funds in the pharma industry illustrates how important the management and valuation of intellectual property is in the life science industry.
“We are passionate about working openly with the best scientists around the world to understand key pathways and mechanisms that can help transform great science into great medicines.”
Mene Pangalos,
EVP, IMED Biotech Unit, AstraZeneca
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Notes
- 1.
This case study was generously provided by Dr. Nigel McCracken, VP President Translational Medicine, Debiopharm Int’l.
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Gassmann, O., Schuhmacher, A., von Zedtwitz, M., Reepmeyer, G. (2018). The Open Innovation Challenge: How to Partner for Innovation. In: Leading Pharmaceutical Innovation. Springer, Cham. https://doi.org/10.1007/978-3-319-66833-8_6
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DOI: https://doi.org/10.1007/978-3-319-66833-8_6
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