The evolution of research and development in the pharmaceutical industry

Toward the open innovation model - Can pharma reinvent itself?

Ram Subramanian, Jeffrey H. Toney, C Jayachandran

Research output: Contribution to journalArticleResearchpeer-review

17 Citations (Scopus)

Abstract

The global pharmaceutical industry is facing diminishing returns from its massive investment in research and development. This is particularly troublesome because the industry has long enjoyed monopoly rents that come from innovative new drugs. The purpose of this paper is to examine the extant R&D practices in the industry and make a strong case for a shift to the open innovation model. Potential roadblocks to adopting the open innovation model are identified as well as ways to overcome these roadblocks. This conceptual paper makes use of archival R&D and sales data to support its contentions.

Original languageEnglish
Pages (from-to)63-74
Number of pages12
JournalInternational Journal of Business Innovation and Research
Volume5
Issue number1
DOIs
StatePublished - 1 Jan 2011

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Drug products
Innovation
Industry
Sales
Innovation model
Pharmaceutical industry
Open innovation
Monopoly
Rent
Drugs

Keywords

  • Open innovation
  • Pharmaceutical industry
  • R&D
  • Research and development

Cite this

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The evolution of research and development in the pharmaceutical industry : Toward the open innovation model - Can pharma reinvent itself? / Subramanian, Ram; Toney, Jeffrey H.; Jayachandran, C.

In: International Journal of Business Innovation and Research, Vol. 5, No. 1, 01.01.2011, p. 63-74.

Research output: Contribution to journalArticleResearchpeer-review

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