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Pipeline refers to the products a company is currently in the process of developing and bringing to market, especially in the pharmaceutical and agrochemicals industries. (For more information on pharmaceutical product development, see Clinical Trials. Pipeline in the pharmaceutical industries is an essential mean of valuating companies potential growth. A company's pipeline represents its strategic decisions. Drug manufacturers build up their pipeline either through internal R&D or through the acquisition of external molecules in various clinical trials phases.
A Sales pipeline (or funnel) refers to the series of steps in the process by which potential customers are found, and converted into buying customers.