Uncertainty in Pharmaceuticals Markets

In a number of industries, competitive constraints come mostly from outside the market. That is notably the case in most pharmaceutical markets where patents protect the position of an operator. In these markets there is uncertainty for the incumbent of where or when the threat to the market position may come. That begs the question of how this uncertainty should be addressed in a competition law assessment. This article seeks to answer that question by focusing on pay-for-delay cases in pharma