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Open innovation: A paradigm shift in pharma R&D?

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This summary is machine-generated.

Open innovation (OI) is widely used in pharmaceutical research and development (R&D), with companies employing various models like collaborations and partnerships. Implementation varies, leading to three distinct R&D organization types.

Keywords:
Crowd-basedEcosystem-enabled R&DNetwork-basedOpen innovationPharmaR&D

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Area of Science:

  • Pharmaceutical industry
  • Biotechnology
  • Innovation management

Background:

  • Open innovation (OI) offers potential for accelerating and diversifying pharmaceutical research and development (R&D).
  • The practical application and extent of OI adoption in pharmaceutical R&D organizations require thorough investigation.

Purpose of the Study:

  • To comprehensively analyze and benchmark the implementation of open innovation (OI) in 21 research-based pharmaceutical companies.
  • To understand the diverse ways pharmaceutical R&D organizations leverage OI models.

Main Methods:

  • Benchmarking analysis of 21 research-based pharmaceutical companies.
  • Identification and categorization of commonly used OI models within these organizations.

Main Results:

  • Open innovation (OI) is an integral component of R&D across all assessed pharmaceutical companies.
  • Commonly utilized OI models include research collaborations, innovation incubators, academic centers of excellence, public-private partnerships (PPPs), mergers and acquisitions (M&A), licensing, and corporate venture capital (VC) funds.
  • Significant variation exists in OI implementation strategies among pharmaceutical corporations.

Conclusions:

  • Pharmaceutical R&D organizations can be classified into three types based on their OI implementation level: predominantly traditional R&D, network-based R&D, and R&D ecosystems.
  • The diverse approaches to OI adoption highlight the evolving landscape of pharmaceutical innovation.