Skip to content
The Vanguard Group
  • About
  • Vanguard Forums
    • About Vanguard Forums
    • General Counsels Forum, NY – Sept 11 & 12, 2019
    • Healthcare Leaders Forum , NY – Nov 6 & 7, 2019
    • Previous Healthcare Forums
      • NY 2018 Healthcare Leaders Forum – Nov 7 & 8, 2018
      • EU 2018 Healthcare Forum – Oct 2, 2018
      • New York 2017 Healthcare Forum
      • Innovation Leadership with Medidata
      • EU 2017 Vanguard Forum for Healthcare Leaders
      • New York 2015 Vanguard Forum for Healthcare Leaders
      • New York 2014 Vanguard Forum for Healthcare Leaders
  • Community
  • Vanguard Advisory
  • Publications & News
  • Contact
Site Search

This Pharma Company Stays Innovative by Doing Two Things

  • March 14, 2017August 8, 2017
  • by Joseph Frye

For industries that depend on innovation, sustaining it is a constant challenge. But Roivant Sciences, a biopharmaceuticals company, bucked the trend by realigning incentives for employees and systematically introducing outside talent and practices. These steps cost almost nothing compared to vast sums often spent — and often wasted — on fostering innovation and have already generated tens of millions of dollars in value. Roivant rewards teams for raising red flags about programs they feel should be halted. And to align everyone around the success of the company, instead specific programs, every employee receives stock options. Research teams are promised new roles if their particular program or subsidiary does not succeed. In addition, the company recruited “rebel” scientists who were open to new ways of working. It also recruited talented non-scientists and charged them with coming up with fresh ideas for making the drug-development process more efficient.

Read the Full Article on HBR.org

Great Strategy Begins with a CEO on the Frontlines
So You Want to Be a CEO?
Joseph Frye

josephpfrye@gmail.com

Related articles

How CEOs Can Work with…
Great Strategy Begins with a…
So You Want to Join…
How to Engage Employees Who…

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *