Q1: Choose which of Porters five forces the following pharmaceutical industry characteristics represent. Use the...
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Q1: Choose which of Porters five forces the following pharmaceutical industry characteristics represent. Use the abbreviations given below to fill in the blanks.
Porters Five Forces: -Threat of substitutes (SUBST) -Threat of new entrants (NEWE) -Threats of supplier leverage (SUPPL) -Threat of buyer leverage (BUYER) -Threat of rivalry (RIVAL)
1. ________ Few alternatives (healthy lifestyle, herbal medicines) are achievable or as effective. 2. ________ New drugs are covered by patents that may extend for 17-20 years 3. ________ Government funded 63% of U.S. healthcare costs in 2013 4. ________ Most large pharmaceutical firms have large sales forces and manufacturing is tightly regulated by the FDA. 5. ________ New drugs must receive regulatory approval from the FDA 6. ________ The time to develop a new drug can be as long as 10 years
Q2: Based on the attributes above, would you suggest that the industry has been relatively attractive, neutral, or unattractive? Why?
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