Pharmaceutical Industry Opens Research Lab Doors to an Innovative World
Dear Friends,
Today is a great day to explore a little further about two worlds I love to work with: Open Innovation and Pharmaceutical Industry.
Both are in continuous development and can be explored together. And this is amazing and rewarding, especially for a person such as myself!
Pharmaceutical industry is a highly innovation driven industry, and throughout its long history it has been constantly contributing to the well-being of people, by providing new medicines to address most diseases, and has grown into one of the major sectors in the world (1).
When we google “Open Innovation” + “Pharmaceutical Industry”, we find out that great pharmaceutical companies are opening up from their traditional secrecy, searching for innovation all over the world (1).
It’s true that not all companies and countries are adhering to this evolution trend, but most companies are, and they are well aware of how much they benefit from doing so.
Let me describe to you the main benefits of Open Innovation for pharmaceutical R&D, according to George Botsakos, from PA Consulting:
access to knowledge, innovation and talented individuals residing internally and externally, through the development of high quality, reliable and extensive networks of strategic partners;
delivery of projects rapidly by combining the best internal and external expertise;
creation of businesses that are agile and responsive to change;
maximisation of return on R&D investment.
According to Open Innovation Community, of which Dr. Henry Chesbrough, the father of open-innovation term is a co-founder, “open innovation has now taken hold in the clear majority of pharmaceutical companies, and has invigorated internal research groups as well as provided significant opportunities for both biotech companies and academic institutions to establish strategic partnerships with big pharma.”
This huge industry wager on opening their innovation is leading the way to the future. Maybe tomorrow I’ll be challenging yourself as a solver with new interesting challenges from pharmaceutical industry, and make your innovative solutions accomplish the goal of ending up crucial health problems.
As a seeker, if you are interested in getting to know more about the possibility of your company to be innovative, InoCrowd is your best solution!
Maybe I have succeeded in awakening your creative mind, as a seeker or a solver! You are welcome to contact us at InoCrowd through the blog, social networks or e-mail!
Kind Regards,
Soraya Gadit
(1) Borja Hernandez Raja & Priyadarsini Sambandan