Open innovation: A new dimension for drug discovery
Recent trends towards increased technology convergence, business model innovation and shortening of product lifecycles have increased the potential relevance of open innovation to many pharma companies. Of late, several leading firms have been moving from an internally focussed innovation process to one that is more ‘open’. This article elaborates on the concept of open innovation, besides citing examples of how organisations are leveraging on it to replenish their drying product pipeline.

About the author:
Akash Bhavsar is the co-founder and president of Skyquest Labs Pvt Ltd, an integrated business intelligence, collaborative research & technology development organisation providing lifescience focus consultancy services. He has been actively involved in technology licensing deals, due diligence of technologies & commercialisation activities. Email: ab@skyquestlabs.com