Challenge
A new corporate strategy that focused on accessing increased innovation in a MidPharma’s core therapeutic area required extra global reach and capabilities to access external innovation
External innovation activities were split between R&D and BD and not located in a way that would ensure both access to the right innovation and integration with the internal organisation
Solution
Defined a clear external innovation focus in terms of pipeline stages, technology modalities, types of collaboration, asset risks, deal archetypes, and geography
Designed a lean external innovation sourcing model inspired by the approaches of other companies and analysis of where the desired technologies and assets were concentrated
Created a business plan and implementation roadmap to successfully embed the new model and characterise the resources and investment requirements for success
Result
- Executive committee approval for a new resourcing model and processes for external innovation with increased investments into strategic locations
- A more focused and effective external innovation machine to enrich the innovation pipeline
