A Study on Evolution of Models for R&D Management and Their Application in Pharmaceutical Industry

The primary function of R&D is to discover and create new scientific and technological knowledge for the purpose of uncovering and enabling development of valuable new products, processes, and services. (OECD). R&D has been source of growth for various industrial sectors, especially pharmaceutical sector through innovation and creativity. This study was undertaken to gain insights into management of R&D by studying various models. Six generations of R&D Models provide insights into innovation process. The study attempts to trace evolution of these models and their application in the pharmaceutical industry. R&D in global pharmaceutical sector has evolved from botanical age in nineteenth century to chemical synthesis later and biotechnology revolution in 1930s & 1940s. Given the changes in the sector, author decided to study R&D management, evolution of models for R&D Management and their application for pharmaceutical industry. The later day models may help examine innovation process factors that contribute to effectiveness of R&D. Creativity is subset of innovation (Woodman et al, 1993), It seems that creativity inhibiters and enhancers influence innovation process; therefore, the models may help in examining factors associated with it. Personality characteristics of R&D personnel seem to impact creativity; the sixth generation model may provide insights into this aspect also.