Pharmaceutical

In 1879, the first Canadian pharmaceutical company was started in Canada. In 1887, the first pharmaceutical company owned by a non-Canadian company followed suit. To protect companies from foreign aspiration indoors Canada, tariff laws were put in place. The strategy was to build manufacturing facilities in Canada, as it would lead to a cheaper drug cost compared to the competition drugs manufactured outside of the country (Lexchin, 2011).
There are terzetto ways of categorizing manufacturing pharmaceutical companies in the industry. The first is a subordinate of a foreign multinational company which makes brand abduce drugs, the second is making drugs that are non eligible to be patented because the patents expired or they obtained compulsory licenses which makes a generic wine brand, and sm only companies that are in the developing stage and still restrain a couple products on the market (Lexchin, 2011).
each the major drug companies are a monopoly because they use patents for all of their products which allow the company to protect their product for a vivification of 20 years.



The patent is an exclusive right that prevents others from making, using, selling, offering to sell, or importing their drug (AIDS, drug prices and generic drugs, 2011). The patent typically lasts for twenty years. This caused a problem for small companies to manufacture drugs and so to encourage competition between companies, the Patent Act was revise to allow compulsory licensing to manufacture which reduces production costs. Compulsory licensing did not come free as the smaller company would have to pay royalty fees to the patent holder on their sales (Lexchin, 2011).If you want to get a full essay, order it on our website: Ordercustompaper.com



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