Clusters in the biopharmaceutical industry: Toward a new method of analysis

Abstract

Clusters are groups of co-located and interconnected firms and institutions linked by commonalities in their strategies and complementarities in their activities and resources. There are several reasons for the geographical clustering of firms in the biopharmaceutical industry. This review unpacks some advantages and disadvantages of cluster participation, and proposes a new method to enable managers and researchers to identify clusters in the biopharmaceutical industry.