Title: Can biomedical tech transfer create both goodwill and good wealth? The case for a global fair profit/for profit model

Authors: Robert Jameson, Daniel Lorence, James Chin, Frank Peo, Luis Gonzales

Addresses: Center for Technology Assessment, University Park PA 16802, USA. ' Center for Technology Assessment, University Park PA 16802, USA. ' Center for Technology Assessment, University Park PA 16802, USA. ' Center for Technology Assessment, University Park PA 16802, USA. ' Center for Technology Assessment, University Park PA 16802, USA

Abstract: Proposed here as a technology transfer practice, we highlight the adoption of a fair profit/for profit model as a means for sustainable biomedical commercialisation. This model de-emphasises short-term, profit maximisation (full-profit) strategies and highlights the tech transfer advantages of niche markets and localised manufacturing, coupled with proven best practices of medical specialties and focused on global market needs. This model recognises, but is not driven by, local regulatory barriers and minimises or eliminates the development and marketing costs traditionally associated with new medical products in industrialised nations. Such a model can be sustainable and profitable, when adopted as part of a global, controlled-growth commercialisation strategy.

Keywords: fair profit; for profit; biotechnology; medical specialties; niche markets; innovation; technology transfer; sustainable biomedical commercialisation; localised manufacturing.

DOI: 10.1504/IJTTC.2009.023437

International Journal of Technology Transfer and Commercialisation, 2009 Vol.8 No.1, pp.110 - 116

Available online: 23 Feb 2009 *

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