|Articles|June 16, 2015
Deloitte Report: Open R&D Models Increase Chances for Late-Stage Success
The report presents a construct of four levels of open innovation.
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Yet biopharma companies appear reliant on the more closed approaches. The report examined development alliances across the sector and found that fewer than 20 percent of products are being developed under the two higher forms of open innovation – "collaboration and variants" and "open source." Overuse of traditional R&D could cause a company to fall behind a creative competitor, while adopting a more open approach "provides the opportunity to access a large, diverse pool of ideas and experts which could spur product innovation, speed to market, reduce costs and increase competitiveness," stated the report.
Perspective is provided in managing five elements that make for a successful transition to open innovation: 1) network characteristics (number and types of partners); 2) talent; 3) intellectual property management and contracting; 4) participant contributions and impacts; and 5) governance.
Read the full release here.
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