GBI Research analysis shows that all of the biggest pharma companies have been looking hard at the way in which they invest in new product development. Although companies are adopting a number of different ways of tackling the problems they face, trends that emerge include a focus on emerging markets both in terms of increasing sales and R&D capabilities; an increasing trend towards outsourcing of different activities within drug discovery and development; and increasing reliance on products conceived externally to fuel company pipelines. In order to support innovation externally, companies are spinning out assets whilst retaining an equity stake and board membership, setting up incubators on company premises to support emerging new companies, supporting life science research through the development of innovation funds and venture capital groups to invest in early stage research and developing closer links with academia. Independent bioscience incubators also have a major role to play in supporting the life science community.
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Reasons to buy
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