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How to grow your Pharma Business?

  Growing a pharma business requires a strategic approach considering the specific context of your company and the pharmaceutical industry as a whole. Here are some general pointers to get you started: Market and Customer: Identify your target customer: Deeply understand the specific needs and challenges of your target audience, whether it's doctors, patients, hospitals, or other healthcare providers. This helps tailor your products, services, and marketing efforts. Focus on unmet needs: Look for gaps in the market where existing solutions are inadequate or unavailable. Addressing unmet needs can give you a competitive edge and drive innovation. Track market trends: Stay updated on regulatory changes, technological advancements, and emerging diseases to adapt your approach and anticipate future opportunities. Products and Services: Invest in R&D: Develop innovative products or differentiate existing ones through unique formulations, delivery methods, or combinations. Remember
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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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