Patent exclusivity is essential in the pharmaceutical industry to enable companies to enjoy a period of high profitability necessary to justify the high costs of development for a novel therapeutic

Question

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Patent exclusivity provides a period of market exclusivity for a pharmaceutical company, which enables them to recoup the high costs of development and earn profits necessary for further research and development. Without patent exclusivity, companies may be less likely to invest in the costly and risky process of developing new drugs, which could hinder medical innovation.

Patent Exclusivity Is Essential in the Pharmaceutical Industry to Enable