(I'm honestly not sure if this question is that useful without knowing the case in question.)

If the fact that they now have a license devalues the value of the original contract you signed for (I am assuming) exclusive rights, then that is why you have the right of first refusal in your contract.

If it is a market in which it is necessary for you to accept some risk or cost as a "first-mover", then that is why you have that clause in your contract.