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Technological Diversity and Future Product Diversity in the Drug Industry

Author

Listed:
  • Uwe Cantner

    (Friedrich-Schiller-University, Jena, Department of Economics, Chair of Economics)

  • Tatiana Plotnikova

    (Friedrich-Schiller-University, Jena, GSBC-EIC The Economics of Innovative Change)

Abstract

This paper deals with the topic of related R&D and innovation strategies of large firms. We ask what determines the diversity of a firm's product portfolio. More specifically, we try to explain large firms' expansion into new product markets driven by the characteristics of their technological knowledge. Empirically, we study firms in the pharmaceutical and biotech industries, using relevant data on product development and technological knowledge. We find a positive relationship between the diversity of a firm's future product portfolio and the diversity of its stock of technological knowledge. This relationship becomes weaker when the breadth of technological knowledge increases.

Suggested Citation

  • Uwe Cantner & Tatiana Plotnikova, 2009. "Technological Diversity and Future Product Diversity in the Drug Industry," Jena Economics Research Papers 2009-031, Friedrich-Schiller-University Jena.
    • Handle: RePEc:jrp:jrpwrp:2009-031
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    File URL: https://oweb.b67.uni-jena.de/Papers/jerp2009/wp_2009_031.pdf
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    Citations

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    Cited by:

    1. Thomas Bolli & Martin Woerter, 2013. "Technological Diversification and Innovation Performance," KOF Working papers 13-336, KOF Swiss Economic Institute, ETH Zurich.
    2. Levan Bzhalava & Uwe Cantner, 2018. "The journey towards open innovation: why do firms choose different routes?," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 8(3), pages 245-265, September.

    More about this item

    Keywords

    Product diversity; technological diversity; product relatedness; technological relatedness; coherence;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics

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