week 4 discussion 2

Week 4 - Discussion 2

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Your initial discussion thread is due on Day 3 (Thursday) and you have until Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be evaluated.

 Barriers to Entry [WLO: 3] [CLOs: 1, 4, 5, 6, 7]

Patents are granted for 20 years, but pharmaceutical companies cannot use their patent-guaranteed monopoly powers for anywhere near this long because it takes several years to acquire Food and Drug Adminstration (FDA) approval of drugs.

• What purposes do barriers to entry created by the government serve?
• What are other barriers to entry in the pharmaceutical industry?
• Should drug patents be extended to 20 years after FDA approval?
• Explain what would be the costs and benefits from this extension.

Your initial post should be a minimum of 300 words.