Pharmaceutical Research and Development

Pharmaceutical Research and Development (R&D) is crucial for the growth and future success of research-based Pharma companies. To maintain their R&D organisations efficient, pharmaceutical companies started to hedge the potential of open innovation to cut R&D costs and to access external knowledge. These new strategies could be divided into several categories: open source, innovation centres, crowd sourcing and virtual R&D.

A variety of approaches is employed to identify chemical compounds that may be developed and marketed. The current state of the chemical and biological sciences required for pharmaceutical research & development dictates that 5,000–10,000 chemical compounds must undergo laboratory screening for each new drug approved for use in humans. The overall process from discovery to marketing of a drug can take 10 to 15 years. As the product takes shape, the process that began with R&D divides into relevant areas necessary to bring the research product to the market. Regulatory aspects are assessed and work begins to meet all the criteria for approvals and launch. 

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