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Open innovation and external sources of innovation. An opportunity to fuel the R&D pipeline and enhance decision making?

Alexander, Schuhmacher and Oliver, Gassmann and Nigel, McCracken and Hinder, Markus (2018) Open innovation and external sources of innovation. An opportunity to fuel the R&D pipeline and enhance decision making? Journal of Translational Medicine, 16 (1). ISSN 14795876

Abstract

Historically, research and development (R&D) in the pharmaceutical sector has predominantly been an in-house activity. To enable investments for game changing late-stage assets and to enable better and less costly go/no-go decisions, most companies have employed a fail early paradigm through the implementation of clinical proof-of-concept organizations. To fuel their pipelines, some pioneers started to complement their internal R&D efforts through collaborations as early as the 1990s. In recent years, multiple extrinsic and intrinsic factors induced an opening for external sources of innovation and resulted in new models for open innovation, such as open sourcing, crowdsourcing, public-private partnerships, innovations centres, and the virtualization of R&D. Three factors seem to determine the breadth and depth regarding how companies approach external innovation: (1) the company's legacy, (2) the company's willingness and ability to take risks and (3) the company's need to control IP and competitors. In addition, these factors often constitute the major hurdles to effectively leveraging external opportunities and assets. Conscious and differential choices of the R&D and business models for different companies and different divisions in the same company seem to best allow a company to fully exploit the potential of both internal and external innovations.

Item Type: Article
Keywords: Crowdsourcing Knowledge leverager Open innovation Pharmaceutical industry Public-private partnerships
Date Deposited: 12 Jun 2018 00:45
Last Modified: 25 Jan 2019 00:45
URI: https://oak.novartis.com/id/eprint/35583

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