Journal
CALIFORNIA MANAGEMENT REVIEW
Volume 55, Issue 4, Pages 83-101Publisher
SAGE PUBLICATIONS INC
DOI: 10.1525/cmr.2013.55.4.83
Keywords
Open Innovation; IP Management; Out-Licensing; Abandoned Compounds; R&D Productivity; Biotechnology; Business Models; Intellectual Property; Innovation Management; Pharmaceuticals; R&D; Licensing
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Pharmaceutical drug development costs have nsen rapidly over the past twenty years. Yet the number of new molecular entities being approved has not increased. Most of these costs can be traced to work on compounds that are abandoned before getting to market As pharmaceutical companies scale back their work in light of deteriorating R&D productivity, significant unmet medical needs remain unaddressed. More extensive external licensing of the IP associated with abandoned compounds could spur recovery and/or redeployment of abandoned compounds to address at least some of these unmet medical needs. The example of Cubicin is offered as an illustration of these more open approaches. This article inductively develops a simple framework to guide companies in the decision of whether and when to license out unused internal IP.
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