For years the pharmaceutical industry has been a closed system on intellectual property and innovative ideas. Open Innovation is a concept that allows for the outflow of innovation and ideas, in order to gain new technologies and research developments. By using external developments in the industry, a company can enhance their own products and evolve their business models to create a community of innovation.
This masterclass will give delegates an insight into the fundamental concepts behind open innovation and the benefits and challenges of successful implementation in the pharmaceutical industry. Case histories from a range of different sectors will be used to illustrate these concepts. Attendees will gain an insight into the different perspectives of the players in open innovation and how these need to be taken into account in developing successful OI strategies.