COMMENTARY: Refusal to share knowledge FOR innovation ill-serves companies, society
By declining to share knowledge and take advantage of the open innovation championed by the technology industry, companies in the life sciences are missing out on a big opportunity for themselves and for society, write Carey Business School Professor Phillip Phan and Johns Hopkins Medicine Professor Dean Wong in Nature.
"Efforts to engage life science companies in open innovation have been hampered by the industry’s continued reticence to share. The result is shrinking pipelines, a wave of drug patent expirations ending in sudden drops in revenue, and poorly served public health. The industry has abandoned entire programmes in disease conditions where needs are growing, such as psychopharmacology," Phan and Wong state in their commentary, titled "Lost opportunities," for the international journal of science.
Phan, the Alonzo and Virginia Decker Professor of Strategy and Entrepreneurship at the Carey School, is an expert in technology entrepreneurship and strategic management.
Wong is a professor of radiology, neurosciences, psychiatry, and environnmental health sciences in the Solomon H. Snyder Department of Neuroscience at the Johns Hopkins School of Medicine.
Use this link to read their full commentary in Nature.
Posted on December 7, 2017 In