When a pharmaceutical company develops a new medication,it typically applies for a patent in order to prevent competitors from developing copycat products for several years.Pharmaceutical companies apply for patents in order to establish:
A) an operational excellence macro strategy.
B) a market penetration growth strategy.
C) a sustainable competitive advantage.
D) an efficient supply chain.
E) all of these.

Question

Quizplus · Accepted Answer

By obtaining a patent, a pharmaceutical company can establish a sustainable competitive advantage by preventing competitors from developing copycat products for a certain number of years, thereby allowing the company to maintain its market share and potentially earn higher profits from its innovative product.

Therefore, options A), B), D) do not apply as they do not directly relate to the benefits that a patent can bring to a pharmaceutical company. Option E) is not necessarily correct because while operational excellence, market penetration, and an efficient supply chain may be important strategies for a pharmaceutical company, they are not directly related to the purpose of obtaining a patent.

When a Pharmaceutical Company Develops a New Medication,it Typically Applies