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-centred 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.