Could Innovation Proficiency Improve Biopharma's Broken Image?

By Rita Gunther McGrath

A big part of the innovation challenge for large pharma companies is that, while researchers are very good at technical innovation, the business end is not. This has to do with the reality that for most of the industry’s existence, once a compound shows efficacy, the rest of the business relies on rapid execution of getting that drug out the door as fast as possible. This results in a real lack of imagination on the part of many pharma executives with respect to how they can create compelling (and therefore premium-priced) value for their customers.