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When Science is Not Enough: A Framework Towards More Customer-Focused Drug Development.

Nektarios Oraiopoulos1, William C N Dunlop2

  • 1Cambridge Judge Business School, University of Cambridge, Cambridge, UK.

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Summary

This study identifies economic, behavioral, and organizational barriers in drug development. A framework offers solutions to foster a more customer-focused pharmaceutical innovation process.

Keywords:
BusinessCustomer-focused developmentDrug developmentFinanceHealth economicsMarket accessPatient accessPharmaceuticalsR&D managementValue frameworks

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Area of Science:

  • Pharmaceutical industry
  • Drug development
  • Innovation management

Background:

  • Customer focus is crucial for successful drug development.
  • Existing literature spans multiple disciplines, including marketing and economics.
  • Barriers hinder a customer-centric approach in pharmaceutical innovation.

Purpose of the Study:

  • Identify key barriers to customer-focused drug development.
  • Develop a comprehensive framework to overcome these barriers.
  • Provide actionable advice for pharmaceutical executives.

Main Methods:

  • Extensive literature review across academic and practitioner sources.
  • Synthesis of findings from innovation management, marketing, and behavioral economics.
  • Development of a conceptual framework based on interdisciplinary research.

Main Results:

  • Barriers categorized into economic, behavioral, and organizational.
  • One-to-one mapping of barriers to practical solutions.
  • Framework offers concrete suggestions for overcoming identified obstacles.

Conclusions:

  • The developed framework provides actionable strategies for pharmaceutical companies.
  • It synthesizes diverse academic findings with industry-specific examples.
  • Enables a more customer-focused drug development process for enhanced innovation.