Wednesday, July 31, 2013

Pharma Open for Business

Time is of the essence when it comes to getting new products to market. Launching innovative solutions that address unmet customer needs is vital for success. The time companies have for product development is ever-shrinking, however. At the same time, technology is advancing more rapidly than ever and the quantity of relevant and information is expanding exponentially.  The most successful firms will be those that can leverage not only the latest technology advances, but also those anticipated on the horizon, while simultaneously accessing the broadest possible skill set and a comprehensive knowledge. In the global market that exists today, that means looking beyond the organization and utilizing all potential resources, or implementing an open innovation (OI) strategy.

Where does your company stand with respect to the OI concept? Do you collaborate with entities outside of your company – universities, institutes, government agencies, even individuals? Have you made use of the services of the various companies that have formed to facilitate OI? What has been your experience? Have you found that people in your company are resistant to bringing technology in from the outside for fear of losing their jobs? What has management done to allay such concerns? What have been some of the stumbling blocks? What about successes?

And don’t forget. If you haven’t already, you can sign up for the Pharmaceutical Sciences, Manufacturing & Marketplace Report here. Also check out the Pharmaceutical Technology/Biopharm International Marketplace at www.pharmabiomarketplace.com.

Cynthia Challener, PhD
Editor
The Pharmaceutical Sciences, Manufacturing & Marketplace Report


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