Networked innovation in the new modality era: strategic insights from spin-offs and precision medicine

Despite major scientific advances, pharmaceutical R&D productivity remains a persistent challenge. This study motivates a network-centric model in which R&D performance can depend not only on firm-level scientific capabilities, but also increasingly on effective positioning and orchestration within innovation networks. Bibliometric analysis showed that previously reported network reconfiguration during the mid-2010s was temporally aligned with the rise of precision medicine. Approval-based analysis revealed the growing contribution of spin-offs and changing roles of large pharmaceutical companies, particularly for new modalities. An exploratory case analysis revealed distinct strategic trajectories in two spin-offs developing conventional or new modality products. Together, these observations converge to suggest strategic implications for pharmaceutical companies, investors, and policymakers navigating the era of precision medicine and new modalities.