TY - JOUR
T1 - Schrödinger’s pipeline and the outsourcing of pharmaceutical innovation
AU - McMeekin, Peter
AU - Lendrem, Dennis W.
AU - Lendrem, B. Clare
AU - Pratt, Arthur G.
AU - Peck, Richard
AU - Isaacs, John Dudley
AU - Jones, David
PY - 2020/3/1
Y1 - 2020/3/1
N2 - 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?
AB - 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?
UR - http://www.scopus.com/inward/record.url?scp=85081418307&partnerID=8YFLogxK
U2 - 10.1016/j.drudis.2019.11.015
DO - 10.1016/j.drudis.2019.11.015
M3 - Short survey
C2 - 31835019
SN - 1359-6446
VL - 25
SP - 480
EP - 484
JO - Drug Discovery Today
JF - Drug Discovery Today
IS - 3
ER -
