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Schrödinger's pipeline and the outsourcing of pharmaceutical innovation
- Source :
- Drug discovery today. 25(3)
- Publication Year :
- 2019
-
Abstract
- In the wake of the Global Financial Crisis (2007-2008) cheaper, softer money flooded the worldwide markets. Faced with historically low capital costs, the pharmaceutical industry chose to pay down debt through share buybacks rather than invest in research and development (R&D). Instead, the industry explored new R&D models for open innovation, such as open-sourcing, crowd-sourcing, public-private partnerships, innovation centres, Science Parks, and the wholesale outsourcing of pharmaceutical R&D. However, economic Greater Fool Theory suggests that outsourcing R&D was never likely to increase innovation. Ten years on, the period of cheaper and softer money is coming to an end. So how are things looking? And what happens next?
- Subjects :
- 0301 basic medicine
Drug Industry
media_common.quotation_subject
B200
Public-Private Sector Partnerships
Outsourcing
03 medical and health sciences
0302 clinical medicine
Market economy
Debt
Drug Discovery
Capital cost
Humans
Open innovation
Pharmaceutical industry
media_common
Pharmacology
business.industry
Research
Outsourced Services
Pipeline (software)
030104 developmental biology
Greater fool theory
030220 oncology & carcinogenesis
Financial crisis
Crowdsourcing
business
Subjects
Details
- ISSN :
- 18785832 and 13596446
- Volume :
- 25
- Issue :
- 3
- Database :
- OpenAIRE
- Journal :
- Drug discovery today
- Accession number :
- edsair.doi.dedup.....d9e94ff352e5df0ad0c188cfa1f9d6fe