Editorial Snapshot: Fueling innovation in the pharmaceutical industry
- Details
- Published: 2020/01/23
Large pharmaceutical companies have traditionally handled research and development activities internally. However, these completely integrated R&D organizations that are characteristic of the pharmaceutical industry may no longer be efficient enough to meet the challenges of bringing a much-needed therapy to the market. With the global prescription drug market expected to reach nearly $1.1 trillion by 2020, pharmaceutical R&D is increasingly looking to strategies such as open innovation and outsourcing to remain competitive.