Redefining Innovation: Embracing the 80-80 Rule to Ignite Growth in the Biopharmaceutical Industry

Redefining Innovation: Embracing the 80-80 Rule to Ignite Growth in the Biopharmaceutical Industry

Most people marvel at the level of innovation demonstrated by the biopharmaceutical industry in bringing new products to the market – especially in the past 20 years. However, there is a crisis looming in the industry that should be a concern to all of us who take for granted the constant pace at which new treatments, and increasingly cures, have emerged from the laboratories of current sector incumbents. In the book, we examine the evolution of the biopharmaceutical industry to understand how it became what we term a “unicorn industry” with a unique, US-centered business model that has led to multiple blockbuster products (aka, unicorns) year after year. We explore how past success has created perceived barriers to innovation diversification beyond the chemical or biological-based biopharmaceutical product, and highlight the warning signs of the industry’s decline. We define a potential pathway for transforming the industry’s business model by broadening the definition, sources, and enablers of innovation beyond the traditional biopharmaceutical product. We introduce and advocate for the 80-80 Rule – “Being 80% confident that you will only be 80% right the first time should feel normal.” The 80-80 Rule is a theme that emphasizes speed and willingness to embrace uncertainty and overcome internal barriers to change. It sets the standard for redefining innovation as a platform to reignite growth of the biopharmaceutical industry.


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Scale

Scale
Geoffrey west’s research centres on a quest to find unifying principles and patterns connecting everything, from cells and ecosystems to cities, social networks and businesses. Why do organisms and ecosystems scale with size in a remarkably universal and systematic fashion? Is there a maximum size of cities? Of animals and plants? What about companies? Can scale show us how to create a more sustainable future? By applying the rigour of physics to questions of biology, visionary physicist Geoffrey west found that despite the riotous diversity in the sizes of mammals, they are all, to a large degree, scaled versions of each other. This speaks to everything from how long we can expect to live to how many hours of sleep we need. He then made the even bolder move of exploring his work’s applicability to cities and to the business world. These investigations have led to powerful insights about the elemental natural laws that bind us together in profound ways, and how all complex systems are dancing to the same simple tune, however diverse and unrelated they may seem.
Buy the book Scale from Ideakart.com.

Scale

Scale
Geoffrey west’s research centres on a quest to find unifying principles and patterns connecting everything, from cells and ecosystems to cities, social networks and businesses. Why do organisms and ecosystems scale with size in a remarkably universal and systematic fashion? Is there a maximum size of cities? Of animals and plants? What about companies? Can scale show us how to create a more sustainable future? By applying the rigour of physics to questions of biology, visionary physicist Geoffrey west found that despite the riotous diversity in the sizes of mammals, they are all, to a large degree, scaled versions of each other. This speaks to everything from how long we can expect to live to how many hours of sleep we need. He then made the even bolder move of exploring his work’s applicability to cities and to the business world. These investigations have led to powerful insights about the elemental natural laws that bind us together in profound ways, and how all complex systems are dancing to the same simple tune, however diverse and unrelated they may seem.
Buy the book Scale from Ideakart.com.