TY - JOUR AU - Cvetanović, Slobodan AU - Despotović, Danijela AU - Milićević, Srđan PY - 2017/12/08 Y2 - 2024/03/29 TI - DEVELOPMENT OF INDUSTRIES BASED ON KNOWLEDGE VALORISED IN INNOVATIONS JF - KNOWLEDGE - International Journal JA - kij VL - 20 IS - 1 SE - Articles DO - UR - https://ikm.mk/ojs/index.php/kij/article/view/3637 SP - 99 - 104 AB - <p>In economy of knowledge, the enterprises in scientifically founded industries increasingly base their strategy of growth and development on research and commercialisation of results in innovations. Academic research rarely results in prototypes of products which can be easily commercialised by industry. Instead, it finds new methods which can be utilised by enterprises in their research and developmental activities. Thus the enterprises that rely on findings of scientific research better understand the domains in which they search for inventions. This enables them to better predict, evaluate and translate the results of technological activities. The domains of pharmacy, biotechnology, manufacturing of medical devices and diagnostic equipment are the basis of growth and rapid integration of life science industry complex. The significance of this segment of industry will undoubtedly grow in future. Numerous prestigious reports evaluate the emergence of bio-economy until 2020 or 203010. The development of pharmaceutical industry predominantly relies on the results of research and development activities which save and increase the quality of life. Commercial valorisation of research results and development of new chemical compounds has become the condition for survival and advancement of pharmaceutical industry, since the influence of a state on price formation in this domain is very pronounced. Pharmaceutical industry is traditionally based on chemistry; it is the largest among industries whose expansion is based on life sciences. It was well-developed even before the emergence of biotechnology. Today, the convergence between pharmaceutical industry and biotechnology is noticed. Many business trends, as well as those within the science itself lead to the emergence of globalised life science industry complex. Pharmaceutical industry offers interesting examples of close cooperation of state, private corporations and academic circles in the process of development of new products. Through the network of laboratories in the national ownership and through donations to universities, the state and private sector directly finance programmes of fundamental research aimed at increasing total amount of basic knowledge. The introduction of new medicines is a key factor of profitability of an enterprise in the pharmaceutical industry. The longer the medicine is on the market, the lower its profitability is. Enterprises make greater profit on newly-produced medicines. The significance of new chemical compounds motivate pharmaceutical enterprises to target a large percentage of their total income on financing research and development activities. The height of research coefficient, expressed as the percentage of participation of research expenses and development in total income of American pharmaceutical enterprises was about 13%, while in biotechnological companies, the amount of this participation was about 25%.</p> ER -