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Product Development in SMEs
Posted 01 October 2008 | By
Product development plays an important role in the pharmaceutical and medical device sectors. The approach used by large multinationals with substantial R&D budgets, as compared to small and medium-size enterprises (SMEs), however, may be very different. In addition, the path used by innovative SMEs as compared to generic or "me too" product manufacturers is likely to be different. SMEs are characterized by limited R&D budgets and usually need to stretch resources. Even SMEs based upon venture capital have fewer resources and smaller R&D budgets than very large, research-focused companies.