Open Innovation in Pharma & Biotec

By • on September 27, 2016

The Fleming website announced that the 4th Annual Conference on Open Innovation in Pharma & Biotec will be held Nov. 17-18 in Vienna, Austria. The call to the conference noted that recent analysis of the current state of open innovation in Pharma & Biotech has revealed a higher successrate for open innovation than for closed-model product development. Adoption of open approaches is still infrequent and slower, mainly due to concerns about intellectual property rights, cultural and management changes as well as adopting new open innovation-based R&D models. Open innovation may be the way forward, as it seems to be a more cost- and time-effective way to bring new products to market. Also, in the current business environment embracing external sources of knowledge is a crucial issue.

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