It depends on how much profit will be generated by investing the same amount of capital in the two activities. Say that half a mil in pharma shares return you 5% yearly; if you can generate more than that with a price-competing activity (also pricing in the risk to your capital, of course), you should do that instead.

In this particular case, there are actors for whom the profit would not be directly generated by sales of goods, but by the amount they save elsewhere in their operations - which, depending on various factors, might actually be multiples.