Happy Pets Inc. has had a virtual monopoly for antidepressant drugs for animals for many years (similar to Eli Lilly's product Prozac for humans). With a patent on this drug, it has had very little competition and this drug has been a major source of company revenue and profit. However, the patent will soon expire and other drug-manufacturing firms seem to be preparing to enter the market in competition with Happy Pets. 

What other recommendations would you offer this firm?

Answer rating: 100% (QA)

Considering the impending expiration of the patent and the potential entry of competitors into the market Happy Pets Inc should consider the following recommendations 1 Diversification of Product Port... View the full answer