Search results for "Biopharmaceutical industry"

The concurrent effect of Open Innovation practices on both innovation and financial performance: empirical evidences from bio-pharmaceutical industry

2012

Purpose – The research presented in this paper explores the effect of Open Innovation on firm performance in the biopharmaceutical industry. Specifically, although existing researches on Open Innovation effectiveness have separately investigated the effect of Open Innovation practices on innovation and financial performance, this study evaluates the concurrent effect of these practices on both such performance dimensions in a single framework. Design/methodology/approach – We measure firm performance and Open Innovation activities of companies listed on NASDAQ; specifically, the study focuses on 128 companies listed in the NASDAQ Biotechnology Index. This industry provides an ideal context …

Open innovation: A real option to restore value to the biopharmaceutical R&D

2014

The pharmaceutical landscape has changed, and new business models, based on alliances, are increasingly being adopted in this industry. Biotechnology advances have pushed this development, and pooling complementary resources coming from incumbents and newcomers is a key skill to succeed: these are the premises for a quick spread of the open innovation (OI) paradigm in this industry. R&D portfolio selection needs R&D project evaluation, and Real Options Analysis (ROA) is acknowledged as a powerful tool to evaluate uncertain projects that have an intrinsic flexibility. The present research aims to foster the use of ROA in the OI field in order to encourage firms to undertake this innovation mode…

A real options based support system to open innovation

2012

Pharmaceutical R&D process (PR&DP) has been deeply investigated by different streams of literature; the interest is due to the strategic implication of the related decisions undertaken. The PR&DP has been revolutionised by the biotech advent and as a consequence R&D managers cannot avoid to consider Open Innovation paradigm during this decision process. Starting from a Real Option optimization model available in literature, the paper aims at proposing a decision support system (DSS) able to suggest the candidate products to be included in the best R&D portfolio varying input parameters (resilient products), to provide a products Pareto analysis that aims at individuating the products for wh…

Capital Structure Decisions in the Biopharmaceutical Industry

2011

Governance forms drivers in bio-pharmaceutial inter-firm relationships

2012

Networking benefits are acknowledged by many studies in the industrial organization and strategic management fields; transaction cost theory agency and property right theory provide the economic foundations to the market-hierarchy dilemma; while Resource based-view (RBV), relational and evolutionary theories provide the strategic foundation of the inter-firm relationships. All this theoretical strands investigate reasons that push firms to formalize their relationship in different governance structures. The bio-pharmaceutical industry has the characteristics to offer to the potential partners both exploitation or exploration alliances benefits. In particular some elements play a “pivot” rol…

Drivers influencing the governance of inter-firm relationships in the biopharmaceutical industry: an empirical survey in the Italian context

2013

This paper focuses on factors influencing the choice of the governance form in inter-firm relationships (IFRs) between pharmaceutical and biotechnology companies. By reviewing the relevant literature on transaction cost economics, property right theory, real option and resources-based view, we located some drivers that might influence such relationships and we formulated a set of hypotheses linking them to governance forms. Such a theoretical framework has been empirically tested through a survey conducted among the Italian companies associated to Farmindustria. Empirical results provide some interesting insights on how shaping bio-pharmaceutical deals; we found that the developmental stage…

How strategic needs influence alliance formation and their governance modes: An empirical study in the Italian biopharmaceutical industry

2011

Firms enter strategic alliances for various reasons, and the motives behind formation of these alliances are one of main research subjects in the management field. The large literature on the issue has highlighted how alliances answer to a strategic need for collaboration that is the need to improve competitive strength through collaboration agreements. However, the study here addresses the strategic need perspective to alliances under a more specific point of view. We question what kind of competitive strengths firms aim at acquiring through inter-firm relationships. By reviewing of the most relevant literature on the issue we assume that alliances respond to three principal strategic need…