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Innovation Work as Play and Systematic Risk-Taking

In: Science-Based Innovation

Author

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  • Alexander Styhre

    (Chalmers University of Technology)

Abstract

One of the standing concerns in the pharmaceutical industry is that major pharmaceutical companies are dedicating substantial time and resources to develop so called “me-too” drugs, that is, drugs that are modelled on a competitor’s successful drug but sufficiently different to be patented (Busfield, 2006: 302). Busfield writes: “A study of approval by the US Food and Drug Administration (FDA) between 1989 and 2000 showed that approvals for new drugs consisted of relatively small proportion of all approvals, with only 35 of applications related to new chemical entities”. Expressed differently, there is a concern in the industry and in society that pharmaceutical firms are primarily interested in short-term profits rather than developing more sustainable product portfolios (Angell, 2004). What is of great importance here is the willingness to expose oneself to risks in the pharmaceutical industry.

Suggested Citation

  • Alexander Styhre, 2008. "Innovation Work as Play and Systematic Risk-Taking," Palgrave Macmillan Books, in: Science-Based Innovation, chapter 5, pages 131-158, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-58251-4_5
    DOI: 10.1057/9780230582514_5
    as

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