In economics we categorize markets by number of firms, barriers to entry/exit, product differentiation, etc.  According to the Five Forces Analysis for the Pharmaceutical Industry, which of the following is NOT TRUE regarding factors affecting New Entrants?   A. Regulation and legal frameworks are significant.   B. There is significant IP involved.   C. There is significant up-front investment to develop an entirely new biotech drug.   D. Patent protection can be a major barrier to entry.   E. Manufacturers expend substantial costs on marketing.   F. All of the above are true.

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