OCLN - Steps to Take Before Drug Patents Expire
It would be best if you always had strategies that you can use when your drug patent is about to lose its exclusivity. As your drug patent expires and the generic competition emerges, your branded drugs will automatically lose more than 40% of their sales to generic formulations. It is therefore always essential to come up with strategies for you to have a soft landing spot in case your drug patent expires. These are some of the steps you may consider taking as your drug patent approaches its expiry:
The conventional therapy against the return hits that come with the loss of exclusivity include:
- You may delay provisional generic entry to the market via a pediatric license indication
- You can develop a product line extension with the capability of patent protection
- Engage in short-term promotional marketing and sales plans
It would help if you were informed that these strategies are useful for every drug. However, they are the typical first line strategy against the economic...
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