Once the patent for a drug in the pharmaceutical industry expires,the market for the generic equivalents

Question

​Once the patent for a drug in the pharmaceutical industry expires,the market for the generic equivalents

Quizplus · Accepted Answer

When the patent for a drug in the pharmaceutical industry expires, generic equivalents can enter the market and compete with the original producer. This creates a competitive market as there are now multiple suppliers offering the same product, driving down prices and increasing consumer choice. While the original producer may see a decrease in profits due to the increased competition, the generic market would still exist. Therefore, option A is the correct choice.

​Once the Patent for a Drug in the Pharmaceutical Industry

Once the Patent for a Drug in the Pharmaceutical Industry