by DJ Summers. Fortune
For one unnamed American biomedical company, it took five years to bring a new product to market as it stuttered on the ideation assembly line. There was genesis, then research and development, then meticulous rounds of testing to refine what came before and meet regulatory scrutiny. Only then was the product manufactured and sold for use in a hospital.
How did a Chinese competitor manage to rush the same product to market in 18 months? Heart valves and prosthetics take less time, it turns out, when a team of digital cat burglars can sneak into the American company’s mainframe and pop out with schematics for a fully tested product, beating the original innovators to market. Read the entire story.