If it ain’t broke, don’t fix it. In the case of the pharmaceutical industry, the current innovation model needs some fixing. Its traditional approach to innovation focuses on in house development with the intent of market exclusivity; at least until the patent expires. And guess what? Patent expiration is spreading like wildfire.
As Mark Lundie, Director of R&D at Pfizer highlighted at yesterday’s Innovation in the Life Sciences seminar at MaRS, the innovation gap is growing as R&D expenditure is on the rise while productivity remains low. In other words, billions of dollars are spent on R&D of drugs, while the number of drugs brought to market is limited to the digits on your hands.
To read the full, original article click on this link: Can There Be An Open Model of Innovation in the Life Sciences? « The RIC Blog
Author: Jasmeet Duggal
