Product innovation, product–market competition and persistent profitability in the U.S. pharmaceutical industry

@inproceedings{Roberts1999ProductIP,
  title={Product innovation, product–market competition and persistent profitability in the U.S. pharmaceutical industry},
  author={Peter W. Roberts},
  year={1999}
}
Increasingly, strategy scholars are exploring the relationships between innovation, competition, and the persistence of superior profits. Sustained high profitability may result when a firm repeatedly introduces valuable innovations that service previously unmet consumer demands. While the returns to the firm from each innovation may erode over time, innovation ensures that, overall, the firm maintains a high performance position. At the same time, sustained high profitability may also accrue… CONTINUE READING
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