Few companies have managed to innovate by playing it safe. Many of the greatest innovators of our time can all attest that ‘risk’ is the killer ingredient. How can the dogmatic compliance led pharmaceutical industry lead the way for innovation in the future? Article published by McCann Health and available in full on PM Live.
The pharma industry is acknowledged as one of the world’s most innovative, with a product back catalogue that reflects a conveyor belt of life preserving interventions. However, when it comes to introducing – or experimenting with – new ways of thinking, pharma’s capacity for innovation can sometimes fail to match its R&D prowess due to its risk-averse tendencies.
“It makes increasing sense to partner with agencies that are being proactive in combining different expertise and have the capability to for multidisciplinary collaboration,” – Ceri James, Director of Innovation and Product Development, McCann Complete Medical
Innovation is not just about being ‘new’, it is about doing things differently to how you’ve approached them before, it is about thinking collaboratively and connecting better with the multichannel world outside. The most effective agencies have developed innovation strategies that enable them to leverage expertise and technology to deliver scalable innovation. Incorporation of broader strategic partners can provide multidisciplinary expertise to enhance the innovation capability of the pharmaceutical industry.