The Power of Open Innovation in Pharma

By • on October 14, 2015

The European CEO website noted that the pharmaceutical industry has suffered a significant decline in productivity in the last 25 years. Many industry observers cited a lack of internal innovation as a contributory factor to this reduction in productivity, and encouraged large pharmaceutical companies to embrace the wider biotech and academic ecosystems. As a result, open innovation has now taken hold in the vast majority of pharmaceutical companies, and has invigorated internal research groups as well as providing significant opportunities for both biotech companies and academic institutions to establish strategic partnerships with big pharma.

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