Chesbrough on Open Innovation in Life Sciences

The journal Nature published an interview with Henry Chesbeough. The article noted that open innovation has taken the business world by storm. In his 2003 breakout book, Chesbrough argued — based largely on observations of the computer industry — that companies need to look beyond their walls to thrive. Gone are the days when in-house research and development (R&D) muscle alone could dominate markets . The future’s giants will get the best bang for their research buck by bringing external ideas in and by letting internal ideas out. For drug discoverers, who have been battered by poor R&D returns, the promise of open innovation is appealing. Drug companies are increasingly talking the talk of open innovation and experimenting with academic collaborations, licensing deals, spin-outs and acquisitions.

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