Abstract
Proper implementation of lifecycle management strategies is important for profit maximization in the pharmaceutical industry. This article investigates the ownership of follow-on patents for approved drugs in the USA. We discover that a considerable number of follow-on patents are originally developed by, and issued to, external partners and not drug sponsors. We also find that the use of follow-on patents is more common in some therapeutic areas than in others. Based on these findings, we develop lifecycle strategies to effectively manage and use external patents in open innovation projects. These strategies include proper license contract design, post-FDA-approval acquisition and open innovation.
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