Brand Name Drug Industry Dynamics

question 15

Essay

Brand Name Drug Industry Dynamics
Market approval in the US for new pharmaceutical products is a long,arduous,and expensive process.Once approved,patent protection keeps close substitute products from entering for some years.If the demand for a particular product is stable,what would you predict for the profitability after approval and prior to patent expiration?

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Definitions:

Improvising

The art of creating and performing spontaneously or without preparation.

Continual Adjustments

An ongoing process of making small changes or modifications to improve or maintain performance in response to changing conditions or feedback.

Unfreezing

The process within change management that involves overcoming inertia and dismantling the existing "mindset" to overcome resistance to change.

Changing

The process or act of making something different, often in the context of improvement or adaptation.