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EBITDA has compounded at approximately 26% over the last 3 years, driven by EBITDA margin expansion of 400 basis points. The Africa strategy is particularly noteworthy Strides acquired Sandozs sub-Saharan portfolio, gaining established brands and distribution in a market with enormous unmet healthcare needs

Part V: Lifecycle Management Tactics The Patent Thicket: Architecture and Limits A patent thicket is a collection of overlapping patents covering a single drug product, constructed to create so many litigation risks for a potential generic entrant that the cost of clearing the IP landscape exceeds the expected commercial value of entry

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