Formulation of a Success Model in Pharmaceutical R&D: Efficient Innovation Model

Recently, pharmaceutical R&D has been demanded to increase productivity in terms of time efficiency and innovation as well. There have been discontinuous challenges coming up in this industry, such as globalized R&D competition, stricter regulation, lengthy process of clinical trials, and so on. Considering external changes, high competition, and discontinuities in the industry, it is a good time to redefine the concept of success in pharmaceutical R&D. Thus, this article attempts to formulate a new success model in pharmaceutical R&D, through contextualizing the industry’s success factors.