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Patent lifecycle management strategies in open innovation projects
1University of Alabama in Huntsville, Department of Management, Marketing and IS, 370 Business Administration Building, Huntsville, AL 35899, USA.
Drug Discovery Today
|June 28, 2020
Summary
Pharmaceutical companies can maximize profits by managing drug patents effectively. Many follow-on patents are owned by external partners, influencing lifecycle strategies in open innovation.
Area of Science:
- Pharmaceutical industry
- Intellectual property law
- Innovation management
Background:
- Effective lifecycle management is crucial for profitability in the pharmaceutical sector.
- Understanding patent ownership is key to strategic drug development and market longevity.
- The role of external partnerships in pharmaceutical innovation requires further investigation.
Purpose of the Study:
- To investigate the ownership landscape of follow-on patents for approved drugs in the United States.
- To identify patterns in follow-on patent ownership across different therapeutic areas.
- To develop actionable lifecycle management strategies for leveraging external patents within open innovation frameworks.
Main Methods:
- Analysis of patent ownership data for approved drugs in the USA.
- Comparative study of follow-on patent utilization across various therapeutic categories.
- Development of strategic frameworks based on empirical findings.
Main Results:
- A significant portion of follow-on patents are developed and owned by entities external to the drug sponsor.
- The prevalence and utilization of follow-on patents vary notably among different therapeutic areas.
- External patent ownership presents both challenges and opportunities for drug lifecycle management.
Conclusions:
- Drug sponsors must develop robust strategies for managing externally owned follow-on patents.
- License contract design, post-approval acquisition, and open innovation are key components of effective external patent management.
- Strategic integration of external intellectual property can enhance open innovation projects and support profit maximization.
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