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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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Compounding of Drugs

Definition:

Compounding means the preparation, mixing, assembling, packing or labeling of a drug or device
  • As the result of a practitioner’s prescription drug order (or) initiative based on the practitioner/patient/pharmacist relationship in the course of professional practice, or
  • For the purpose of, or as an incident to research, manufacturing, teaching, clinical trial or chemical analysis including drug analysis and not for sale or dispensing.
Note: Compounding also includes the preparation of drugs or devices in anticipation of prescription, observed prescribing patterns

Compounding, dispensing and labeling of required drug products should ensure that
  • The drug product matches the prescription.
  • The drug product has not expired.
  • The drug product is appropriately compounded (if necessary), packed and labeled appropriately.
  • The accuracy of dispensing is checked by Registered Pharmacist.
  • Proper documentation is made.

No person other than a Registered Pharmacist shall compound, prepare, mix, dispense or supply of any medicine on the prescription of a Registered Medical Practitioner.
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