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The evolution of research and development in the pharmaceutical industry: toward the open innovation model – can pharma reinvent itself?

Author

Listed:
  • Ram Subramanian
  • Jeffrey H. Toney
  • C. Jayachandran

Abstract

The global pharmaceutical industry is facing diminishing returns from its massive investment in research and development. This is particularly troublesome because the industry has long enjoyed monopoly rents that come from innovative new drugs. The purpose of this paper is to examine the extant R&D practices in the industry and make a strong case for a shift to the open innovation model. Potential roadblocks to adopting the open innovation model are identified as well as ways to overcome these roadblocks. This conceptual paper makes use of archival R&D and sales data to support its contentions.

Suggested Citation

  • Ram Subramanian & Jeffrey H. Toney & C. Jayachandran, 2011. "The evolution of research and development in the pharmaceutical industry: toward the open innovation model – can pharma reinvent itself?," International Journal of Business Innovation and Research, Inderscience Enterprises Ltd, vol. 5(1), pages 63-74.
    • Handle: RePEc:ids:ijbire:v:5:y:2011:i:1:p:63-74
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    Cited by:

    1. M. D. Rozaida* & Mahanum Daim, 2018. "The Role of Process Innovation between Organizational Capability and Software Project Success in Malaysian Public Sector," The Journal of Social Sciences Research, Academic Research Publishing Group, pages 112-124:4.

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