Which is one of the main reasons a pharmaceutical company might be granted an exclusive period to market and distribute a new drug?
1. It allows the company to recoup the cost of research and development.
2. It allows consumers to get used to the trade name of the drug.
3. It allows all the adverse effects to be discovered.
4. Without competition, consumer savings are significant.
Correct Answer: 1
Rationale 1: Exclusivity allows a pharmaceutical company a period of time to recoup the costs of research and development of a drug.
Rationale 2: The period of exclusivity is not granted so that consumers will become familiar with a trade name.
Rationale 3: Adverse effects are discovered during the clinical drug trials, not during the period of exclusivity.
Rationale 4: Competition between pharmaceutical companies actually results in consumer savings.
Global Rationale: Exclusivity allows a pharmaceutical company a period of time to recoup the costs of research and development of a drug. Exclusivity is not granted so that consumers will become familiar with a trade name. Adverse effects are discovered during the clinical drug trials, not during the period of exclusivity. Competition between pharmaceutical companies actually results in consumer savings.
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