Part 2/8:
The pharmaceutical industry is characterized by immense financial investments, with over $330 billion spent annually on prescription drugs. However, the challenge is significant, as approximately 90% of drugs fail during clinical trials. For those that succeed, great effort is directed towards capturing market share before patent protections expire, thereby maximizing profitability and enabling further investment in research and development.
The Four Factors of Competition
The podcast delved into four fundamental factors influencing drug competition: efficacy, safety, price, and convenience.