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 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) product efficiency.

Question

Quizplus · Accepted Answer

Pharmaceutical companies apply for patents to establish a sustainable competitive advantage by preventing competitors from developing copycat products and gaining an edge in the market. This allows them to have a monopoly over the product for a specified period, which can be beneficial in terms of profitability and market share.

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