FROM LAB TO MARKET: A LITERATURE REVIEW OF INNOVATION MANAGEMENT STRATEGIES IN NATURAL PRODUCT DRUG DEVELOPMENT
DOI:
https://doi.org/10.71235/rmee.228Keywords:
natural products, innovation management, drug development, technology transfer, pharmaceutical R&D, botanical drugsAbstract
The natural product drug development sector faces unique innovation management challenges, including high attrition rates, extended timelines, and complex regulatory pathways. Despite natural products contributing significantly to pharmaceutical innovation, with over 30% of newly approved drugs between 2000-2020 being derived from natural sources, the translation from laboratory discovery to market remains inefficient, with failure rates exceeding 90%. This review examines innovation management strategies specific to botanical drug development, analyzing successful and failed cases to identify critical success factors. We explore the natural product innovation pipeline through a stage-gate framework, evaluate R&D management models, and examine technology transfer mechanisms from academia to industry. Key findings reveal that ethnopharmacology-guided selection, early regulatory engagement, strategic intellectual property protection, and adaptive business models significantly improve success probability. The paper provides actionable recommendations for managers, entrepreneurs, and researchers involved in natural product commercialization, emphasizing the need for integrated innovation management approaches that address both scientific complexity and commercial viability. Table 2 compares the three main innovation management models. This paper presents a comprehensive literature review of innovation management practices in natural product drug development, synthesizing insights from regulatory approvals, case studies, and theoretical frameworks.
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