Innovation between Bio-Tech Firms and Global Pharaceutical company
Innnovation is the critical element of success in the Pharmaceutical Industry.
A major pharmaceutical firm was faced with a dismal prospect for the future: its internal R&D did not have a breakthrough drug in the pipeline, its major drug patent was soon to expire, and, to make matters worse, the company’s reputation with the all-important bio-tech firms was less than stellar.
When new innovation was ready for licensing to a major pharmaceutical company, the bio-tech firms went elsewhere.
First gaining senior executive endorsement, the company made full use our extensive proprietary best practice architectures.
They then drove the collaborative capability deep into the organizational structure and used these approaches to revitalize existing innovation relationships
Then, using our proprietary architectures, the company forged new relationships with outside innovators around the globe.
Within a year, results were being seen. Transactional thinking had been replaced with new win-win approaches. Arrangements that had traditionally taken many months to put in place were now taking just weeks. Innovation relationships were being rebuilt.
Within four years, the company was proud to announce it had an abundance of new innovation.