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The Complex Factors that Influence Drug Prices

Pharmaceutical companies typically use a variety of factors to determine the price of their drugs, including: Development and production costs: Pharmaceutical companies invest significant amounts of money into the research, development, and production of new drugs. The cost of these activities, including clinical trials and obtaining regulatory approval, is factored into the price of the drug. Marketing and Distribution Cost: Marketing and distribution costs may also be considered by pharmaceutical companies when determining drug prices. These costs include expenses related to advertising, sales representatives, and distribution networks. Drug Uniqueness: If a drug is the first of its kind or represents a significant improvement over existing treatments, the pharmaceutical company may set a higher price for it. If a drug has many competitors or is like existing treatments, the company may have to set a lower price to remain competitive. Market demand: Companies also consider the dem
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How to open a pharmacy?

Pharmaceutical sector is a regulated sector and regulated under drug and cosmetic act & rules. Pharmacy is related to pharmaceutical retail business and for starting pharmacy business, you will require to take Retail drug license. Most of times, we misunderstood the pharmacy term and we consider a pharmacy as a drug store and chemist shop. But there is difference between chemist shop and Pharmacy. Licensing requirements and documents also differ to some extent in both. But most of times they are used as a synonyms for each other.  Pharmacy is the pharmaceutical retail business that employs the services of a registered Pharmacist and maintains the compounding of medicines along with dispensing of pre-packed formulations against prescription of registered medical practitioner . The term Pharmacy shall be held to mean to include every store or shop or other place: Where drugs are dispensed, that is, measured or weighed or made up and supplied ; or Where prescriptions are compound
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How to Import of Bulk Drugs in India?

In India import, manufacturing, sale and distribution of drug is regulated under Drugs and Cosmetics Act 1940 and Rules 1945. At present, bulk drug (Active Pharmaceutical Ingredients) and finished formulations are regulated under the said Act. Any substance falling within the definition of drug required to be registered before import into the country. Not only drug but the manufacturing site needs to be registered for import. The application for Registration Certificate and import License can be made to the Licensing Authority under the Act i.e. to the Drugs Controller General (I) at CDSCO, FDA Bhawan, Kotla Road, Near Bal Bhawan, New Delhi by the Local Authorized Agent of the foreign manufacturer having either manufacturing or sale License or by the foreign manufacturers having a whole sale License in the country through online application system “SUGAM” Requirements: Pharmaceutical Manufacturing License or Wholesale Drug License Importer Exporter Code Number Import Reg
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How to Import Medicine in India?

In India import, manufacturing, sale and distribution of drug is regulated under Drugs and Cosmetics Act 1940 and Rules 1945. At present, bulk drug (Active Pharmaceutical Ingredients) and finished formulations are regulated under the said Act. Any substance falling within the definition of drug required to be registered before import into the country. Not only drug but the manufacturing site needs to be registered for import. The application for Registration Certificate and import License can be made to the Licensing Authority under the Act i.e. to the Drugs Controller General (I) at CDSCO, FDA Bhawan, Kotla Road, Near Bal Bhawan, New Delhi by the Local Authorized Agent of the foreign manufacturer having either manufacturing or sale License or by the foreign manufacturers having a whole sale License in the country through online application system “SUGAM” Requirements: Pharmaceutical Manufacturing License or Wholesale Drug License Importer Exporter Code Number Import Licen
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How to start Medical Store in India?

Pharmaceutical sector is regulated under drug and cosmetic act & rules. Every activity i.e. manufacturing, distribution, retailing and dispensing is regulated under this act. Chemist shop is come under retail business in pharmaceutical sector. Pharmaceutical retail business includes Drugs store, druggists, chemists and pharmacy. There are some minor differences between all these but we are not covering here. You can check difference between Drug Store, Druggist, Chemist and pharmacy here Chemist/Druggist shops/ Medical Stores are the pharmacy retail stores who employ the services of registered pharmacist but don’t maintain a pharmacy for compounding of medicines against prescription of registered medical practitioner. Chemists and Druggists deals in pre packed medicines and dispense in actual form of packaging as received from manufacturer. Requirements for Starting medical store: Shop at prime location or at location where number of medical practitioners/hospitals are
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How to start distribution business in Pharmaceutical Sector?

Pharmaceutical sector is regulated under Drug and Cosmetic Act & Rules, 1940. All activities i.e. manufacturing, marketing, distribution, retailing, dispensing is regulated under Act. For doing any of activity in pharmaceutical sector, one must take a license for performing that activity. In this article, we will discuss about how you can start pharmaceutical distribution business. For starting pharmaceutical distribution business, you need to have following things: Distribution of Pharmaceutical Company Wholesale Drug license Number Goods and Service Tax Identification Number FSSAI License  (If doing Food and Dietary Supplement distribution also) Distribution of Pharmaceutical Company: For starting distribution of pharmaceutical products, you should have distribution of at least one pharmaceutical company. You can take distribution of one or more pharmaceutical companies. Procedure for taking distribution of a pharmaceutical Company: Choose distribution type you want to
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Steps for starting Pharmaceutical manufacturing company.

Pharmaceutical sector is regulated under Drug and Cosmetic Act & Rule, 1940. From manufacturing to retailing, every activity is regulated under this act and separate license is required for conducting every type of activity. For setting up pharmaceutical manufacturing unit, you will require to take manufacturing license number for it. If you want to manufacture medicines then you will require medicine manufacturing license. If you want to manufacture medical device then you will require manufacturing license for medical devices. If you want to manufacture pharmaceutical raw material/ Bulk Drugs and active ingredients then you will require related license. Similarly separate licenses will be required for cosmetics, surgical equipments, disposable syringes etc. Manufacturing licenses is granted by State Drug Control Office generally situated at capital region of concern state. You have to apply for manufacturing license to State Drug Control Office. But before applying for granting
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21 steps involved in start Pharmaceutical Marketing Company.

For starting Pharmaceutical marketing company, you need to fulfill requirements and licensing. Pharmaceutical sector is regulated under Drug and Cosmetic Act & Rules, 1940. From manufacturing to retailing, every step is regulated under Act. You will need to take license for indulging in any kind of business in pharmaceutical sector. Now come to point. For starting pharmaceutical marketing company, you have to fulfill following licensed requirements. Constitution of proprietorship firm/ Partnership firm or Register a Company Wholesale Drug License number Goods and Service Tax identification Number Trademark Registration (Optional) FSSAI registration/License (If dealing in food supplements also) To know in detail about documents and procedure by particular license, you can click at above links. Other than licenses, you may require many character sticks and traits to start pharmaceutical marketing company. You have to prepare yourself mentally and financially to start p
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Ayurvedic Medicine Company

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