Abstract
Precision medicine is an approach to disease treatment and prevention that seeks to maximize effectiveness by taking into account individual variability in genes, environment, and lifestyle. The medical paradigm has been changed with the emergence of precision medicine and many companies with business related to precision medicine should cooperate with other companies. The purpose of this study is to analyze the alliance portfolio factors that affect firms’ innovation performance. This study examined whether the diversity factors of the alliance portfolio and alliance management capability influenced its innovation performance. Additionally, we investigated the moderate effects of participation of research organizations in the alliance portfolio. As a result, there was an inverted U-shaped relationship between the industry diversity of the portfolio and innovation performance; therefore, the participation of research organizations in the alliance portfolio showed a positive effect. Additionally, the value governance diversity changed to have a positive effect by interacting with research organizations. This study provides information on the alliance portfolio factors that affect the innovation performance of precision medicine companies.
Highlights
Precision medicine is an approach to disease treatment and prevention that seeks to maximize effectiveness by taking into account individual variability in genes, environment, and lifestyle [1]
The alliance data were collected from the Life Science Analytics medicine, many new companies for precision medicine based on genomic and clinical information are established in the United States, and existing pharmaceutical companies are creating new departments related to precision medicine or switching their business models to this field [3]
This study investigated the current status of alliance portfolios of precision medical companies and examined the relationship between the diversity factors of alliance portfolios and corporate innovation performance with alliance management capability
Summary
Precision medicine is an approach to disease treatment and prevention that seeks to maximize effectiveness by taking into account individual variability in genes, environment, and lifestyle [1]. Technologies and services related to precision medicine include genome analysis equipment, health information measurement equipment, targeted and immune cancer drugs, health information integration and linkage services, genome analysis services, and medical big data analysis [3]. These make it difficult to carry out a business independently by a company with only one technology and service [4]. The term “precision medicine” was noted by President Obama in 2015 when he announced the Precision Medicine Initiative [2].
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