TITLE

Entrepreneurial Innovation in Pharmaceutical Research and Development

AUTHOR(S)
Boyatzis, Richard E.; Esteves, Mary B.; Spencer Jr., Lyle M.
PUB. DATE
December 1992
SOURCE
Human Resource Planning;1992, Vol. 15 Issue 4, p15
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Rapid innovation in pharmaceutical firms, especially in drug development, benefits the consumer and the company. Based on earlier organizational competency studies, a diagnostic study and intervention are detailed here in which the time needed to develop a drug was reduced by over 30%, doubling the time the company will probably have the drugs available for sale and distribution while under patent protection (i.e., increasing this period from about four years to about eight years). A number of strengths of the company were built upon in devising entrepreneurial drug development units, called Venture Teams. It was found that the scientist or clinician leading each Team could operate as a product champion within the highly complex and intricate activities of scientific studies, clinical trials, worldwide development, and regulatory requirements. Entrepreneurial spirit, and the focus created by organizing activities around specific drugs, enabled flexibility and rapid decision making. It also had an effect on stimulating excitement in the entire R&D Division.
ACCESSION #
9410110543

 

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