Biomedical Engineering Reference
In-Depth Information
PAY-OFF OR
COMMERCIALISATION
(5-8 YRS TO PEAK SALES)
NEW SCIENTIFIC
KNOWLEDGE
PRODUCT DEVELOPMENT
(8-12 YRS)
PATENTABLE INVENTIONS
Knowledge
Base
Science Base
Investment
I Public University & Private
Institute — Research
Patents
Royalty +
Lump Sum
Income
II Small Boutique Private Sector
Companies — Research
Patents
Medium Size R&D
Private company.
Complete Regulatory
Approval Package
III
Limited Research
Portfolio
Patents
Global
Diffusion
Major Company
International
Global Development
Programme
IV Broad Research
Portfolio
If successful
5-10 years of profitable
sales
Patents
Fig. 5.
R&D relationships in innovation networks.
the critical mass and the funding necessary to run clinical trial programmes. Pisano
(2006) in a comprehensive review of the evolution of the US biotech sector has
highlighted that in aggregate SMEs have generated spectacular revenue growth, but
profitability has remained at very low levels compared to the pharmaceutical sector
as a whole. Attrition rates through bankruptcy or merger and acquisition remain
high.
Thus far, relatively little research is available on how the contractual arrange-
ments between this more complex set of players shares the actual, or potential future
rewards for innovators.
Innovation networks and clusters in biopharmaceuticals
A large body of research has been encouraged by governments to identify new
organisational forms that might help enhance global competitiveness through inno-
vation. It explores the merits of different organisational forms and relationships
(Bailey et al. , 1994). A major set of OECD studies has been published recently,
which document and compare national systems for biopharmaceutical innovation
(OECD, 2006). Much attention has been focussed upon the evolution of both large
and small academic research centres situated in small geographical clusters, and
associated knowledge networks in the USA.
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