“…In 2014, it attracted an additional £2.5bn in R&D funding from the year before, and overall, the UK sector consists of more than 4,398 companies, employing over 183,000 people and generating a £56bn in turnover (Strength and Opportunity, 2014). Yet, it has been suggested that the sector is suffering from a productivity crisis as the cost of R&D increases and additionally, the changing regulatory environment, becomes more stringent, with an increasing focus on safety and efficacy (Hara, 2003;Lowman et al, 2011;Paul et al, 2010;Munos, 2009;Light and Lexchin, 2012;Subramaniam, 2003;DiMasi et al, 2003;Melese et al, 2009;Kaitin and DiMasi, 2011;LaMattina, 2011;Schuhmacher et al, 2013). In addition, despite the large investments, merges and acquisitions, the sector has faced marked decline in productivity, as the size of the company or R&D budget does not necessarily guarantee equivalent success (Comanor and Scherer, 2013;Khanna, 2012Khanna, , p. 1089.…”