Table 5.

Success factors of virtual R&D

Advantages of a virtual R&D organization	Essential elements to operate a virtual R&D organization
Instant access to new technologies and external resources on demand	Excellent industry and academic networks
Reduced capital requirements (overhead and infrastructure)	Professional, project, portfolio and alliance management skills
Simple governance structure	Simple governance structure
Reduced bureaucracy and faster decision making	Collaborative scientific and medical support from those who understand drug development
Flexibility in selecting optimal services providers	Excellent expertise in risk management and financial valuation
Mitigated financial risk	Outperforming licensing and acquisition strategies and skills
Reduced time to market	Admirable outsourcing skills
	Excellent communication and motivation skills to manage external project teams