Challenge
Ambitious targets for pipeline growth in a MidPharma led to a request for R&D to establish how it could do more external innovation in order to support achievement of the new goals
The external innovation team was under-resourced and traditionally focused on earlier technology collaborations rather than the pipeline enrichment that was newly required
Solution
Developed a powerful external innovation strategy that supported the delivery of the desired R&D strategy, and designed new activities and processes for the various elements of the organisation involved in external innovation
Benchmarked a subset of peer companies to inform key choices around resourcing, capabilities, targets and necessary investment
Created a business plan that included resourcing, return on investment and impact on the existing organisation and designed the “reconfigured” R&D/BD capabilities
Result
- The external innovation business plan was approved, implemented, and embedded into the existing R&D and BD processes
- The company applied the plan to accelerate pipeline enrichment through signing more high quality and focused external innovation deals
