Patent laws and regulatory requirements such as required FDA (Food and Drug Administration) approval to launch new products shield pharmaceutical companies' positions in this slow-cycle market.

Question

Quizplus · Accepted Answer

Patent laws and regulatory requirements serve as barriers to entry for competitors, helping to maintain the market position of pharmaceutical companies. FDA approval is required before most new drugs can be launched, providing another layer of protection for established companies. These factors contribute to the slow-cycle nature of the pharmaceutical industry.

Patent Laws and Regulatory Requirements Such as Required FDA (Food