Is technology integration the solution to biotechnology's low research and development productivity?
Abstract The demand for innovative and cost-effective products has had considerable impact on the Research and Development (R&D) portfolio of pharmaceutical companies. With the advent of the new enabling technologies, the biotechnology revolution has created a need for a new and more appropriate paradigm for drug development. The progress in the biological understanding of disease processes and related technological developments have been a major step forward for drug discovery. However, the great majority of the biotechnology companies are confronted with the same issues as major pharmaceutical companies in terms of R&D productivity. This article intends to unfold the challenges faced by biotechnology companies involved in drug discovery by managing the complexity, uncertainty and urgency of technology integration through organic, acquisition and partnering strategies have become priorities for biotechnology companies in helping them achieving more efficiency in their pharmaceutical R&D efforts. Such strategies help biotechnology companies apply their technologies across a broad range of applications within the drug discovery value chain to maximize opportunities for product development. Competitive advantage in the marketplace ultimately derives from providing better speed, cost, quality and direction.