The Internationalization Challenge: Where to Get Access to Innovation
As a science-driven endeavor, the pharmaceutical industry is inherently global. This is even truer for pharmaceutical companies originating in small countries, where high R&D costs can only be recouped by selling the resulting drug to a worldwide mark
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Oliver Gassmann · Gerrit Reepmeyer Maximilian von Zedtwitz
Leading Pharmaceutical Innovation Trends and Drivers for Growth in the Pharmaceutical Industry
Second Edition
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Prof. Dr. Oliver Gassmann Dr. Gerrit Reepmeyer University of St. Gallen Institute of Technology Management Dufourstr. 40a 9000 St. Gallen Switzerland
Prof. Dr. Maximilian von Zedtwitz AsiaCompete Int’l Ltd. #1902 Wanguo Gongyue 18 Dongzhimenwai Xiaojie 100027 Beijing PR China [email protected]
[email protected] [email protected]
ISBN 978-3-540-77635-2
e-ISBN 978-3-540-77636-9
DOI 10.1007/978-3-540-77636-9 Library of Congress Control Number: 2007942737 c 2008, 2004 Springer-Verlag Berlin Heidelberg This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permission for use must always be obtained from Springer. Violations are liable to prosecution under the German Copyright Law. The use of general descriptive names, registered names, trademarks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. Production: le-tex Jelonek, Schmidt & Vöckler GbR, Leipzig Cover design: WMX Design GmbH, Heidelberg Printed on acid-free paper 987654321 springer.com
Preface for 2nd Edition
The importance of the topic has been reflected in the high demand for our first book. Since we finished the first edition, leading pharmaceutical companies seems to have become even more challenging in just a few years. Here are a few examples: x Double-digit industry growth has stopped to be a given fact. While the pharmaceutical industry has historically been growing at an astounding annual rate of 11.1 percent from 1970 through 2002, projections for the future range somewhere between 5 to 8 percent per year globally. The industry leading giant Pfizer even had to post negative revenue growth for 2005 and 2006 respectively, for the first time in the firm’s recent history. As a result, cost cutting programs – unthought-of in the late 1990s and early 2000s – have become a top priority on the agenda of many pharmaceutical executives. x The innovation productivity paradox has maintained its negative trend. Worldwide industry spending on R&D continued to outpace new drug approvals. The major U.S. and European pharmaceutical companies spent a record amount of US$ 43 billion in 2006 to conduct research and development. However, only 29 new molecular entities have been approved by the FDA in the same year, compared to 53 just a decade ago. However, researchers produce more and more gene maps and pinpoint sources of our
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