Cwmgarw Group Makes Case for Introducing Disruptive Innovation into Biopharmaceutical Development.MIDLAND, Va. -- A new article from The Cwmgarw Consulting Group claims that one of the main reasons product development costs are soaring, while fewer products make it to market, is that advances in science and regulatory initiatives are unable to permeate permeate /per·me·ate/ (-at?) 1. to penetrate or pass through, as through a filter. 2. the constituents of a solution or suspension that pass through a filter. per·me·ate v. the inflexible processes of many life science companies. Most life science companies adapt rigorously to advances in basic research. However, when it comes to development science, including implementing initiatives from regulatory agencies regulatory agency Independent government commission charged by the legislature with setting and enforcing standards for specific industries in the private sector. The concept was invented by the U.S. , many companies are reluctant to change their well-set paradigms despite acknowledging the dire need for change. The article, the first in a series examining how to inject in·ject v. 1. To introduce a substance, such as a drug or vaccine, into a body part. 2. To treat by means of injection. innovation into product development, highlights the possibility of utilizing disruptive disruptive /dis·rup·tive/ (-tiv) 1. bursting apart; rending. 2. causing confusion or disorder. innovation as a paradigm to shake-up traditional wisdom. "Our goal in this new series of articles is to provoke pro·voke tr.v. pro·voked, pro·vok·ing, pro·vokes 1. To incite to anger or resentment. 2. To stir to action or feeling. 3. To give rise to; evoke: provoke laughter. thought," says Dr. Richard Williams, author of the article. "Innovative development creates value; repetitive development strategies destroy value." The high cost of bringing drugs and biologics to market (> $1B), and the recent high profile failures of new products in late stages of development, underscores the importance of introducing innovation into the development process for all companies. "For emerging companies, innovative development is crucial," says Williams. "The weak IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. market, changing landscapes for VC exits, and the increasing number of inter-industry trade sales make disruptive innovation a smart flexible paradigm for maximizing value inflection points Inflection Point An event that changes the way we think and act. -Andy Grove, Founder of Intel. Notes: For example, the fall of the Berlin Wall was an inflection point in global politics and the commercialization of the Internet was an inflection point in technology. ." Copies of the article, Accelerating Product Development through Disruptive Innovation, can be downloaded from www.cwmgarw.net. About The Cwmgarw Group The Cwmgarw Group, a virtual firm comprised of experienced globally-dispersed consultants, provides strategies and operational solutions for product development in emerging life science companies. The firm believes that while time and flawless execution are extremely important, these two parameters alone are inadequate to maximize value inflection points. To maximize value creation, each project must also be viewed as uniquely different and, consequently, agreeable to innovative opportunity. |
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