The licensing of new molecules and technologies is a relatively new phenomenon in pharma industry. Licensing, technically, refers to transfer of rights to a third party to use the Intellectual Property owned by the licensor. The licensing can be for manufacturing as well as marketing rights in selective geographies. It is only recently in previous year that most of the companies have started to understand the benefits of in-licensing of products and technologies.

According to a new research report by RNCOS entitled, “Site-Specific Drug Delivery Market, By Application (Pulmonary, Ocular, Oncology, CNS, Cardiovascular) - World Forecasts to 2022”, few pharmaceutical companies that have realized benefits of in-licensing include mid-level pharma companies as well as start-ups such as, UK Modi Group, Elder Pharma, Walter Bushnell, Emcure Pharmaceuticals Ltd., etc. This rising demand for in-licensing of drug delivery products and technologies is attributed to considering cost of licensing, shortening of timeline to market entry, and addressing weak growth areas such as therapy segments.

The approach towards licensing, if followed sequentially, can return predictable results. To tackle with this, pharma giants have well established business development department. The objective is to scan the worldwide markets for innovative and unique opportunities in site-specific drug delivery. Similarly, in mid-level companies or start-ups this is carried out by marketing department specialized in identifying in-licensing opportunities.

Furthermore, increased R&D spending by pharma companies is in lieu of rising expectations of investors for a reasonable Return of Investment (ROI) provided by new molecular entities (NMEs) launched in major pharma markets. Due to increase in complexity of pharma R&D, collaborations are being performed significantly nowadays. The objective behind the collaborations is to get access to novel drug targets, knowledge of signal transduction pathway, animal models, etc. For example, GSK’s expenditure includes about half of its R&D budgets to collaboration partners from academic institutes or biotech companies.

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