Consider the following two observations about the situation facing pharmaceutical drug firms in 2019. 

(1). New pharmaceutical drugs receive patent protection for 20 years, after which any firm can legally begin producing the drug. An article on bloomberg.com, though, noted that “aspiring new competitors face huge barriers to entry. Even drugs with published formulas can be complex and difficult to manufacture in a way that meets legal requirements.” 

(2). In 2019, the stock prices of some pharmaceutical firms declined after opinion polls showed some support for the “Medicare for All” proposal put forward by Vermont Senator Bernie Sanders, who was running for the Democratic nomination for president. Under Medicare for All, the government would provide most health insurance, including prescription drug coverage, and would lower the prices that pharmaceutical firms could charge. Briefly discuss these two observations in the context of the five competitive forces model.