Anemic R&D is a key reason for the hemorrhage of value from big pharma and other industries. "The scientific revolution is visible to us all, but its translation into significant goods and services remains a distant goal for most large, established corporations," writes Jean-Pierre Garnier of GlaxoSmithKline. He says big companies should break up their mammoth R&D organizations, overhaul core processes and put experts back in charge.

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