February 3rd, 2009
The Promise of Open Innovation
As people continue to assess the current economic situation, the need for innovative solutions is an oft-discussed topic.
Dr. Paul Stoffels, who is chairman of Pharmaceutical Research and Development at Johnson & Johnson, has been rather outspoken on this very subject – as discussed last week in the WSJ Health Blog and more recently in an opinion article in the Boston Globe.
Detailing his vision of the future based on innovation, Paul explained in the Globe piece that:
As a physician, a pharmaceutical research and development business leader, and a global citizen, I see one major road to economic recovery and that is through innovation.
In addition to calling for collaborative innovation in the post-crisis world, aimed at economic recovery, Paul also explained the need for collaborative innovation in the pharmaceutical industry.
Through open innovation, he believes there will be an increase in intellectual entrepreneurship and novel collaborations across institutions and geographies. As he explained, this joint effort will then fuel the discovery of solutions to some of the world’s most critical healthcare challenges and meet unmet medical needs for patients worldwide.
In the Boston Globe editorial, Paul goes on to describe some examples of open innovation within the Johnson & Johnson familiy of companies:
At Johnson & Johnson, we are shifting our innovation ecosystem toward an open innovation model, tapping into both institutes of scientific excellence and our own research and development centers across the world.
Our scientists are taking a networked approach across internal organizational disciplines and geographies, including Asia and other emerging markets, and increasingly with external public and private partners to generate ideas and intellectual property. By working with experts at other companies, universities, and research institutes, we tap a wider range of expertise, capabilities, and resources. Together we share in both the benefits and costs of innovation that will yield more useful technologies and solutions that will contribute to new advances in healthcare.