How can you effectively manage open innovation partnerships in the pharmaceutical industry?
Open innovation partnerships are collaborations between different organizations that share knowledge, resources, and risks to create new value and solutions. In the pharmaceutical industry, open innovation partnerships can help accelerate drug discovery, development, and delivery by leveraging the expertise, capabilities, and networks of various stakeholders, such as academic institutions, biotech firms, contract research organizations, patient groups, and regulators. However, managing open innovation partnerships in the pharmaceutical industry is not a simple task. It requires careful planning, execution, and evaluation to ensure that the benefits outweigh the challenges and that the partners achieve their goals and expectations. In this article, you will learn how to effectively manage open innovation partnerships in the pharmaceutical industry by following these six steps: