INNOVATION MODELS IN THE BIOPHARMACEUTICAL SECTOR

Jim Attridge
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Jim Attridge: Centre for Health Management, Tanaka Business School, South Kensington Campus, SW7 2AZ London, UK

Chapter 1 in Innovation in the Biopharmaceutical Industry, 2007, pp 1-29 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe innovation process in the biopharmaceutical sector is influenced by long business cycles, multiple stakeholders and complex interactions. Early models of the innovation process are inadequate to capture the complexity of innovation in the life sciences sector. In particular, narrow classifications which describe innovations as “radical” or “incremental” are not particularly useful when considered in the context of the complex patterns of interrelated innovations observed in practice.Many partial models of the innovation process which equate innovation to inventive research, patenting and product development fail to recognise that innovation is a cyclical and business-driven process and underscore the final phase of the innovation process, namely, achieving timely market diffusion and adoption of innovations to benefit patients and innovators. Innovation is sustained if it is appropriately rewarded. Investment in the science base alone without appropriate reward system for innovations is unlikely to promote renewed competitiveness in the European biopharmaceutical industry.

Keywords: Pharmaceutical Innovations; Healthcare; Health Systems; Cardiovascular Medicine; Life Sciences; Cancer Medicine; Biopharmaceuticals Sector; Patents; Economic Growth (search for similar items in EconPapers)
Date: 2007
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